Nuclear option: Why pension tax relief must remain untouched

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...