Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, following his decision to reduce the lifetime allowance for those saving with personal pensions, what assistance the Government plans to offer to people whose additional pension provision is likely to breach the reduced lifetime allowance for personal pensions but would not have breached the previous limit.

The Government will put in place transitional protection to ensure that individuals with savings over the proposed lifetime allowance limit are not subject to retrospective taxation. Further detail on these protections is provided at https://www.gov.uk/government/publications/pension-schemes-newsletter-73-october-2015/pension-schemes-newsletter-73-october-2015