lifetime allowance

Stuart Russell delves into legislative changes affecting how retirement income can be taken.

Aviva has announced an increase in its maximum free cover limits for group life policies.

People who have registered for enhanced protection could find it invalidated by 2012 auto-enrolment regulations and face "penal" charges, First Actuarial says.

Pension savers in schemes set up before A-Day should move quickly to protect their benefits from onerous tax charges, says Rowanmoor Pensions.

HM Revenue and Customs seems to be allowing pension scheme administrators to use their own judgement when applying certain tax charges.

Despite receiving bonus payments of more than £1m, many City professionals will be taking advantage of the A-Day changes instead of buying fast cars and big yachts, claims Route Wealth Management.

Financial intermediaries are being advised to review as many clients as possible ahead of A-Day, as a client's life cover could tip some investors over the pension lifetime allowance.