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Autumn Statement: George Osborne on changes to pensions

The Chancellor, George Osborne, has outlined changes to tax relief on pension pots as part of his Autumn Statement.

He said from 2014-15 the lifetime pension relief allowance will fall from £1.5m to £1.25m and there will be a reduction in the annual allowance from £50,000 to £40,000.

In depth: Autumn Statement 2012

  • 05 Dec 2012
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