Melchett,
"which will probably limit how much you can commutate your pension which should save a few quid in the short term."
Spot on, I understand that's exactly what they propose to do. I believe the max commutable amount will be 25% on any pension earned after 1 April 2008, but remaining at 50% before that date. Regrettably, the information source escapes me though, and IS unconfirmed.
Bugger if you're caught in the pension trap.....
