Shock freezing of pension tax allowances
Chancellor of the Exchequer Alistair Darling announced in his 2008 Pre-Budget Report (on the HM Treasury website) that both the lifetime allowance (LTA), which limits the size of individuals’ tax-free pension funds, and the annual allowance (AA) for tax relief on pension contributions will be frozen between 2010/11 and 2015/16.
On this page:
High earners hit
Help for pensioners
Extra pension more costly
Gilt sales
Table 1: Pre-Budget Report – benefit rates and thresholds for 2009/10.
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