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Budget 2015 ABI comments on reduction of lifetime allowance

Huw Evans, ABI Director GeneralCommenting on the reduction of the lifetime allowance announced in today’s Budget, Huw Evans, Director General, Association of British Insurers said:

"Pension providers support reform of pension tax relief but three piecemeal cuts to the current system in five years is the wrong way to go about it.

"We need a fundamental review of the whole system to make it fairer and to deliver long-term stability for people doing the right thing by saving for their retirement."

Last updated 01/07/2016