Green’s intervention comes ahead of Chancellor George Osborne’s emergency budget on 8 July.

“This bonus Budget, the first of the new parliament, is likely to be used to deliver bad news, as it will allow the longest time for the electorate to forgive the government before the next general election,” Green said.

“It is probable that the Chancellor will target higher income earners’ pension tax relief perks. As such, those who earn £150,000 or more and are subject to the marginal rate of 45 per cent, might want to urgently review their pension tax relief.

“The time to act is now, as it is highly probable the pension contribution relief for those on higher incomes will be reduced. It might be worth considering making a larger one-off contribution before the Budget, in order to benefit from the higher tax relief.

“Such a move would be another example of how politicians of all parties seemingly believe that pensions are an easy and convenient target to bolster government coffers as and when they need to.  This might explain the growing trend of people moving their UK pensions out of Britain and into HMRC-recognised overseas pension schemes.”

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