The £1.25m lifetime cap on tax free pension savings will affect workers who retire on anything from £20,000 a year, meaning those who start to save early could face tax charges of 55% when they retire, according to new research.
A report in the Telegraph suggested teachers, accountants and other white-collar workers aged 35 today could be affected if they contribute to a pension over the next two and a half decades. Currently...
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Follows active fee cuts in June