The recently concluded case of Fryer v HMRC initially created some worry in the world of pensions, as it brought into question the inheritance tax treatment of a pension fund when a decision has been made to defer taking benefits.

HM Revenue & Customs has confirmed that people under age 55 in unsecured pension (also known as income drawdown) will face an unauthorised payment charge if they purchase an annuity or switch to another provider.

Informed Choice chartered financial planner Martin Bamford looks at Liberal Democrat proposals for abolishing higher rate income tax relief on pension contributions and suggests making contributions now if you were planning to do so in 2010/11.