Thousands of pension savers have breached lifetime allowance ‘protections’ in the past 12 years, potentially landing themselves with tax bills running into hundreds of thousands of pounds.

New figures have revealed a continued decline in pension transfer volumes across the market.

A recently-published court ruling could open HMRC up to new claims from investors who accidentally lose lifetime allowance ‘protection’ by forgetting to stop paying contributions to their schemes.

A survey of 700 DIY investors has revealed a raft of concerns from pension tax relief to ISAs.