The Government has announced a series of changes to the pension rules and the main areas are:

1.) the lifetime limit will be reduced to £1.5m from April 2012.

2.) from 6th April 2011 the amount of the annual allowance will be reduced from £255,000 to £50,000.

3.) a new rule will be brought in that will allow carry forward of unused annual allowance from the last three tax years.

4.) the method of calculating the amount of pension input amounts will be changed.

Please contact us if you would like further information on how these changes will affect you.