Thank you for your prompt reply.A reduction in pension cap would not make any difference to taxation of your pension income unless you exceed the lifetime allowance.You would only pay extra tax if there were changes to personal allowance and reliefs available against income. Other wise, your tax would be calculated as before.
Tax payable if you go above your lifetime allowance - 25% if you get your pension as a regular payment.
More information on this can be found here
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