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Wales Online
Wales Online
National
Neil Shaw

Warning to pensioners as some could lose more than half their savings to tax

HMRC

Thousands of pension savers potentially face tax charges as they have more than the lifetime allowance sitting in their personal pensions, figures indicate.

Around 2,300 people have been paying into personal pension schemes exceeding the lifetime allowance of £1,073,100, according to HM Revenue and Customs (HMRC) data.

InvestingReviews.co.uk obtained the figures from HMRC following a freedom of information (FOI) request.

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