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The maximum pension pot size that workers can accumulate before applicable tax rates is likely to be significantly reduced by the picture of the Treasury Board: ALAMY

The amount of the retirement savings on which people receive a tax break must be with less than one-fifth of current save ￡ 4 billion annually.

The amount of the deductible is cutting ￡ 255 000 per year for only ￡ 50,000 from April next year.

The Government also plans to reduce the indemnity life pension benefits from 1.8 million to 1.5 million pounds of April 2012 tax savings.

Accountants predict changes will hit more than 500 000 people, including professional middle-class investors who choose to pay the lump sums in pension benefit from tax breaks and contractors indépendants.Certains will face requirements to pay tens of thousands of pounds in tax as a result.

Financial Secretary of the Treasury Board Mark Hoban said: "we... has developed a solution which will help to fight the deficit, but do not affect low income and modérés.Nous took a hard but fair decision."

"The coalition Government believes that our system is fair, will help to preserve incentives to save and - at the last approach of the Government - will help businesses United Kingdom to attract and retain talent."

This is the latest move by George Osborne, the Chancellor, designed to target employees more élevés.Il follows the controversial decision rate taxpayers benefit and allow elevation at the University of tuition.The threshold higher rate tax is payable is also reduced.

PricewaterhouseCoopers, one of the largest firms accounting, considers that the amendments would affect more than 500,000 people. ""This will affect many more people than anyone else imaginary," said Marc Hommel, one of its partners pension.

Tom McPhail, Hargreaves Lansdown, a wealth manager pension expert said: "given the tone of the thinking of the consolidated revenue fund, prospects look even darker so we thought initially to retirement."

"" We will certainly see severe restrictions on available pension investors breaks special fiscaux.Perdants will be means to senior executives in final salary schemes and those seeking to catch up over the years lost in pension fund ".".

Ros Altmann, Director General of the saga, group said: "it could hit people on ￡ 40,000 per year and that they are already affected by things such as changes in benefits enfant.Nous must stop targeting this group, people just hitting the tax rate high."

"The Government talking about fairness, but creates a dangerous cliff edge at this level of revenu.à a higher level, you will all, notice and ￡ 40,000 is higher than the average, it is not very well off the coast."

Critics say that changes in the pension will be eroded 'tottering foundations' final salary pension plans.

The new annual allowance - after which an additional tax burden would be applied - could be overtaken by someone whose entitlement to a pension in a final salary scheme was increased by slightly more than ￡ 2,000 a year.

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