An online tax calculator allowing savers to calculate the financial impact of Gordon Brown's 1997 decision to abolish tax credits on pension funds has been launched by Brewin Dolphin.
The tool compares the anticipated value of an individual’s pension on retirement to what it would have been had the Government not changed the tax treatment of pension funds a decade ago. The Chancellor beat off a Conservative call for a vote of no confidence over his 1997 decision on Tuesday, a day before the remaining stages of the Pensions Bill went through the House of Commons. But Brewin Dolphin says 19 million British adults are unaware of the impact of abolition of ACT on their pensions. The firm says the calculator will show clients how much they should increase their contribu...
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