24th September 2015

Canada Life: Changes to Pension Input Periods and the Tapered Annual Allowance

In addition to the Pension Freedoms that came into effect in April, the chancellor also announced in his Summer Budget changes to the annual allowance and pension input periods.

From 6 April 2016, the annual allowance will be tapered for high earners and Pension Input periods will be aligned with the tax year. This means that in future tax years it will no longer be possible to manipulate Pension Input Periods (PIPs), however opportunities still exist for some clients to make additional contributions into their pension, which in total may be larger than the original £40,000 allowance.

Sam Newton discusses these changes, and the opportunities they provide, in his article 'Changes to Pension Input Periods and the Tapered Annual Allowance'.

Help your clients retire with confidence

For more information on the new pension freedoms and to discover how the CanRetire range of products could help your clients retire with confidence, read our comprehensive CanRetire Adviser guide here.

Retirement, Pensions