In a few weeks something that sounds incredibly boring is going to happen. The government will change the lifetime allowance on individual pension pots. At the moment you can put up to £1.5m into your pension free of income tax (if not national insurance).
But from April, that falls to £1.25m. End up with any more than that – either from making contributions, having a good final-salary pension, or from making good investment returns – and you will be charged a flat tax of 55% on the excess.
You might think that these figures make no odds to [...]
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