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CBI welcomes NAO assessment

The CBI has welcomed the National Audit Office&#39s assessment of the number of people affected by the lifetime limit on pension savings, saying it is an important step towards resolving lingering problems.
Deputy director-general John Cridland says that, now the figures have been agreed, the industry can focus on getting simplification while ironing out the remaining issues.
He says: “It was the Government&#39s constructive amendments to its provisions that have helped bring the numbers down. Even so, the NAO endorses the concern of business that the figures could be higher than the 5,000 or so the Treasury suggested.
“Now we need to find ways of safeguarding the reasonable expectations of people currently not capped as a result of working for the same employer since before 1989.”

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