The removal of the pension lifetime allowance in this year’s Budget has had a profound impact on pension saving and retirement planning for individuals in higher tax brackets, according to recent findings by Investec Wealth & Investment, a wealth management firm. Their research reveals that over half (51%) of the surveyed individuals have taken action in response to this change. Specifically, many have either resumed pension contributions, increased their existing contributions, or are actively considering boosting their pension investments to adapt to the new circumstances.

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