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New Pension rules in the Budget March 2020


Threshold and Adjusted Income levels to both be increased by £90,000 for 2020/2021.

This results in Threshold Income becoming £200,000 and Adjusted Income being £240,000.

Tapered Annual Allowance will then taper down to £4,000.

The new TAA of £4,000 will only affect those whose total Adjusted Income is in excess of £300,000

The proposals to offer greater pay instead of pension accrual for higher paid NHS clinicians, will not be taken forward.

Lifetime Allowance linked to CPI and to be £1,073,100 for 2020/2021

 

FOR INVESTMENT ADVICE REGARDING YOUR PENSION OR OTHER INVESTMENTS PLEASE CONTACT Elliott Wilson ACSI DipPFS AF3

 

While we keep information on the website as up to date and as accurate as possible, the information on this website does not form part of our advice process. Cambridge Pensions Ltd cannot accept any liability for any decisions made by a client or member of the general public based on any information contained on this website. The value of your investments can go down as well as up and you may get back less than has been paid in.


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