A tax crackdown on wealthy savers could see the £50,000 annual pension contribution cap cut for the second time in two years, according to reports. Government slashed the amount savers can pay into a pension for full tax relief from £255,000 a year to £50,000. It could now be reduced further as the ministers raid pensions to pay for a new £10,000 income tax threshold to ease the burden on low-income families. Taking from rich, bonus-toting bankers and financiers may be a popular political ploy in the current economic environment. The National Association of Pension Funds – one of Britain's most powerful lobby groups - has joined the backlash over excess rewards and perks. Its chief executive, Joanne Segars, says: ‘When everyone else is feeling the squeeze, we cannot let executive pay run away.'...Read more here--: Government considers lowering £50k pension cap as alternative to scrapping tax relief