Why the cap on pensions is discriminatory

There is much to be welcomed in the simplification of pensions, especially if it leads to savings, not only in scheme administration costs, but also presumably in the vast armies of the Revenue regulators that currently police schemes in Nottingham. The following are our initial thoughts on areas where we believe there are problems in the proposals. The £1.4m cap is discriminatory. At age 65 it would cost £1.55m to buy an equivalent pension for a single female, compared to a single male. The cost of pensions generally gets less the older one gets and therefore the cap will lead to les...