The Government gives incentives to people who save in pensions, but there is a limit to its generosity and if you save too much then you may be hit with tax charges.How much can someone save in pensions over their lifetime?There isn't a hard limit on the amount you can save over your lifetime, but the lifetime allowance caps the amount you can save without facing tax penalties.The lifetime allowan

If you took a defined benefit pension pre-A-Day, how do you calculate the proportion of your lifetime allowance it takes up?RichardTom Selby, AJ Bell Senior Analyst says:The lifetime allowance, which caps the amount you can save in a UK pension over your lifetime, was first introduced at 'A-Day' in April 2006 as part of reforms designed to simplify the retirement tax rules in the UK.The lifetime a