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The impacts of reducing the Annual Allowance from £40,000 a year would depend upon a number of factors including earnings growth and behavioural response to the policy change.<\/p>
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A costings note for the reduction of the Annual Allowance from £50,000 to £40,000 and the Lifetime Allowance from £1.5 million to £1.25 million was published at Autumn Statement 2012[1]<\/sup><\/sup>.<\/p> <\/p> [1] This policy costings document was published alongside Autumn Statement 2012<\/p>