Retirement

The pension tax anomaly that gives with one hand and takes with the other

The pensions industry has warned that tax relief cuts announced in the Summer Budget will deter people from saving into a pension and make the tax system even more complex.

Advice group Origen Financial Services faces a costly Financial Conduct Authority (FCA) investigation into its pension transfer advice.

Three problems with Osborne's policies

George Osborne's call for radical thinking on pensions tax relief could solve the problem "once and for all" but there are huge policy issues to overcome, industry experts have said.

The government has introduced an income tax exemption for regulated financial advice provided as part of employer-led transfer exercises from defined benefit (DB) to defined contribution (DC) pension schemes.

The 2015-16 tax year will be split into two mini tax years for the purposes of the annual allowance as part of transitional rules, the government has announced.

HM treasury will "actively monitor" the effect of salary sacrifice on tax receipts and has left the door open to cutting back on the benefit.

The government has delayed the launch of a secondary annuity market amid concerns about consumer protection, it has said in its Budget document out today.

A shift from an 'EET' to a ‘TEE' tax system could save the government £10bn a year, academic Michael Johnson has said.