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UK Government Reduces Lifetime Allowance

From 6 April 2012 the UK Government is reducing the Lifetime Allowance from £1.8MM to £1.5MM. The Lifetime Allowance was introduced by the UK Government in April 2006 and was a limit against which an individual’s pension was measured. In April 2006 the allowance was £1.5MM and this increased to £1.8MM by 2011. It is […]