Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

High earners’ pensions cut

Major employers are cutting pension contributions for senior staff because new rules, almost a year old now, are too onerous to implement.

Company bosses are deciding that it is safer to reduce pension perks for their most valued employees, rather than to risk making errors which could later result in unexpected tax charges and disputes.

Experts branded the 2016 pension changes, known as “tapering”, as “the most complicated set of rules ever introduced to pensions”.

The “annual allowance taper” is a complex requirement that drastically scale back the amount higher earners – those earning upwards of £150,000 – can put into a pension.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.