The Spring Budget 2020 introduced changes to the much-criticised annual allowance tapering rules for higher earners, taking effect from the 2020/21 financial year.

The changes will benefit many of our clients, although the very highest paid will have their tax-efficient pension contributions restricted yet further.

More details on the changes, and the implications for higher earning members of Teachers’ Pensions in particular, are contained in our briefing note.

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