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Brown &#39taking a sledgehammer&#39 to pensions – Friends

In response to the pre-Budget report Friends Provident expressed its disappointment at the Government decision not to abolish the lifetime limit and the&#39punitive tax penalties&#39 imposed if the limit is exceeded.

Friends Provident head of pensions marketing Jeremy Ward says: “Lifetime limits, which in reality will affect only the upper end of the market, are just an unnecessary complication, and will be difficult for consumers to both understand and monitor. It really is a case of the Government taking a sledgehammer to crack a nut.”

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