Tuesday 11th July 2023
Updated information on the Armed Forces Pension Schemes has been made available pertaining to taxation.
Following the Chancellor’s announcement of his budget statement on 15 March 2023 changes have been made to pension savings tax affecting both the Annual Allowance and the Lifetime Allowance. Full information and guidance can be found in the Armed Forces Pension Scheme: Pensions Savings Tax Booklet, below:
Please also note that a new pension tax site has been launched through the MOD’s intranet site that provides further guidance and other useful information.