You’ve no doubt heard that the pensions Annual Allowance (AA) and Lifetime Allowance (LTA) limits are due to reduce in April 2014, in turn causing a headache or two for some NHS Pension Scheme members as well as those who have accrued pension funds elsewhere. Annual Allowance Firstly, it’s worth pointing out that you are able to save as much as you like towards pensions each year, however you only currently receive tax relief on the first £50,000. From 6 April 2014 this reduces to £40,000.
