Nuclear option: Why pension tax relief must remain untouched

ISA-style pensions 'spell disaster'

clock • 5 min read

Adrian Boulding is resolute in his commitment to the current pension tax relief system. George Osborne, he writes, could be about to make a big mistake...

The government is in the midst of consultation on changing the current pensions tax relief regime to cut the amount it ‘gives away' each year. HM Treasury published its consultation paper entitled ‘Strengthening the incentive to save: a consultation on pensions tax relief' the same day as last summer's Budget. If you read between the lines of the 23-page document there is no doubt that the Treasury is worried about the rising cost of its annual pensions tax relief give-away that is increasing exponentially with auto-enrolment bringing so many more employees into pensions savings. S...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Devilish details: Protection and the abolition of the LTA

Devilish details: Protection and the abolition of the LTA

'There are a number of subtleties to be aware of'

Thomas Coughlan
clock 22 March 2024 • 8 min read
L&G Retail launches adviser handbook on later life divorce

L&G Retail launches adviser handbook on later life divorce

To help support advisers dealing with clients going through a divorce

Jenna Brown
clock 21 March 2024 • 1 min read
New occupational scheme launches; BSPS rescue proposals set out

New occupational scheme launches; BSPS rescue proposals set out

Former British Steel workers will be able to ‘reverse transfer’ their pots

Jonathan Stapleton
clock 14 March 2024 • 2 min read