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Pensions Update

Continuing our regular feature, the Norton Rose Pensions Team brings us a pensions update, including details of the pensions aspects of the recent Budget

 
Continuing our regular feature the Norton Rose Pensions Team brings us a pensions update including details of the pensions aspects of the recent Budget
Budget 2008 — Pensions Changes
 
With effect from 6 April 2008 the lifetime allowance was increased by £50 000 to £1.65 million and the annual scheme allowance by £10 000 to £235 000.
Pensions income
 
The 10% starting rate for pensions and earned income has been scrapped. The basic rate of tax has been reduced by...

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