Lifetime allowance: what are the options?

Chancellor George Osborne’s decision to slash still further the lifetime allowance, and with it the limits applicable to the levels of pension savings which qualify for tax relief, came as little surprise to many. This second reduction in as many years now means that those investors fortunate enough to be able build up a pension fund of over £1.25 million face the prospect of an additional tax charge. With this latest reduction, not only will those already in possession of a healthy pension ‘pot’ find themselves in the firing line, but the same will of course apply to those individuals wh...