Legal & General issues pensions carry-back warning

There are just five weeks until the deadline for consumers to use their previous tax year's pension contributions allowance.

Legal & General has released its latest pensions profile to remind people about the January 31 deadline.

"January 31st is now almost as important a date in the tax calendar as April 5th is for many people," Legal & General's head of pensions technical services, Colin Batchelor, said.

He added: "The rewards of 'carrying back' are twofold. Not only will clients potentially boost their retirement income but they will also receive substantial tax benefits."

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