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LGPS Briefing - The restriction of tax relief for "High Earners" Pension Contributions

The Nottinghamshire Pension Fund's Actuaries, Barnett Waddingham, have published their LGPS Briefing note for January 2010 which focuses on the Pre-Budget Report (PBR) 2009.

The main areas covered in the briefing note are as follows:

• The change in tax relief on "high earners" pension contributions that will be restricted to 20% from 6 April 2011.
• The introduction of new rules, known as anti-forestalling, applied from 22 April 2009 to discourage people making substantial additional pension contributions, taking full tax relief before the changes in 2011.
  

The briefing also includes articles on the following:

• A new 50% tax rate will apply to individuals with taxable income of £150,000+ from 6 April 2010.
• Public Sector Pensions - broad statement about capping employer contributions and employees earning over £100,000.00 to pay a greater contribution.
• The setting up of a Public Sector Pensions Commission to look at the key issues affecting the future of public sector pensions.

A copy of Barnett Waddingham's LGPS briefing for January 2010 is available below in PDF format for you to download or read on-line.

Barnett Waddingham's - LGPS Briefing Note - January 2010 [PDF 84KB]