qwertyuiop
The annual increase in a DB pension is x 16 against an AA of £40k. Low/zero CPI. So lots of NAPSters are hit with a huge tax charge even with no additional input. A reduction in AA would mean an even bigger tax charge.
A reduction in tax relief would alter the balance between employee v employer inputs. High employee inputs (NAPS) would become less advantageous against the free money provided by an employer input (BARP 2).
Crunch the numbers after November.
Unfortunately, middle class pensions are a chancellor's cash cow.