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Podcast: FTAdviser Podcast
Episode: Why pension allowances put advisers on the backfoot
Description: According to data published by the government, in 2018-19 there were more than 34,000 taxpayers who reported their pension contributions exceeded their annual allowance - with excess payments amounting to £817m.Savers also struggle to stick within the lifetime allowance with more than 7,000 people exceeded the allowance, incurring a tax charge.This week reporter Amy Austin examines why so many savers struggle to stay within their allowances and why the number of people exceeding them has continued to climb.She is joined by Tom Selby, senior analyst at AJ Bell, and Rachael Hall, a f...