As widely trailed, the UK government has confirmed in the Summer Budget on 8 July that pensions tax relief for those earning more than £150,000 will be severely restricted from April 2016 – relief will be tapered to a minimum of £10,000 a year. In addition, the government announced that it is launching a consultation on the wider taxation of pensions. The current system can broadly be described as ‘exempt, exempt, taxed’ with the contributions…