The reduced lifetime allowance for pension contributions will take ordinary savers by surprise, research by self-invested personal pension (SIPP) provider Liberty SIPP has predicted.
Any contribution cap on personal accounts would discourage people from saving for retirement, claims Which?
James Purnell, Minister for Pensions Reform, has hinted the government's response to the personal accounts white paper will reject the idea of including any additional benefits or "bells and whistles" to the scheme, such as death benefits, or early drawdown....
James Purnell, Minister for Pensions Reform, has revealed the government is willing to consider representations for a contribution limit for personal accounts lower than £5,000.