BBCNEWS BBC News June 4, 2024 15:38:00
The lifetime tax—free limit on the value of pension schemes, above which you get hit with an extra tax charge. an increasing number of employees paid much more than claire — such as doctors — will soon have pension pots that breach the £1 million limit after it was cut in recent years by successive chancellors. the government is thinking of raising that limit back to £1.8 million, to prevent doctors and others from retiring early to avoid the tax charge. but actuaries say that fewer than 5% of workers will have a pension valuable enough to benefit from that. economists say that much mo...