25% Reduction in Minimum Pension Limits now official

The Government has implemented its decision, announced in late November 2011, to extend the 25% reduction in the minimum pension limit to the 2012/13 financial year.

The SIS Regulations have now been amended so that the 25% reduction applies to both the 2011/12 and 2012/13 financial years.

The reduction applies to allocated pensions, account-based pensions (including transition to retirement pensions) and to market linked pensions.