Rowanmoor criticises scheme pension crackdown

In the consultation paper; ‘Tax relief for pensions: Inheriting tax-relieved pension savings’, the government says scheme pensions and annuities are mainstream products which operate on a risk pooling basis to provide secure income in retirement, and as such it doesn’t want to impose any burdens on the vast majority of schemes where tax relief is being used as intended. However, it says it has become clear “some in the industry are looking to design products to enable inheritance of tax relieved capital and the government plans to introduce measures to prevent such products from being use...