Pensions need 20% boost to counter Govt tax 'raids'

The firm says pension scheme members must get over the fact they have lost money and start thinking of ways to make up for the shortfall. Research by the Taxpayers’ Alliance estimates about £150bn to £225bn has been lost by private pension funds since the abolition of Advanced Corporation Tax relief (ACT) in 1997. Brewin Dolphin calculates the average pension saver will need to contribute an extra 15% to 20% in order to recover the loss inflicted on them by the Government. “The pension raid figure will only get larger each year so rather than dwell on the total loss to pensions, individu...