Pensions Autumn Budget 2018

Pensions Lifetime and Annual Allowances

• The £40,000 Annual Allowance is unchanged. 
• Tapered Annual Allowance for higher earners is unchanged.
• Inflation increase (2.4%) on the Lifetime Allowance to £1,055,000. 

Ban on pensions cold calling

No cold calling on pensions to hopefully reduce scams, pensions mis-selling and pensions fraud.

There are some organisations such as pension companies, trustees and advisers that can apply for an exemption provided:

• You have consented to receiving calls from the organisation making the call
• You are an existing customer and expect to receive calls from that company, unless of course you have not given permission or withdrawn permission
• Information Commissioner’s Office maximum potential maximum fine of £500,000 for organisations that abuse the cold call rules.