Tony's cronies protect their own pensions - papers 15th July

clock

WHILE THE NATION'S media is firmly fixed on the Butler report, the Guardian's business pages reveal senior civil servants, judges and MPs will escape the proposed higher pension tax on any contributions over £1.5m which could lead to accusations of ‘feather-bedding.

Members of the civil service and parliamentary occupational schemes will be exempt from a crucial rule designed to cap the tax benefits of pension savings of more than £1.5m, because the government refused to delete a clause in the Finance Bill which will allow public sector officials to gain extra protection of their old pension rights. Critics say in the case of a judge promoted to the appeal court who would see their salary rise from £150,000 to £170,000, their annual pension income would jump by more than £10,000 a year under new civil service pension rules. Whereas private sector...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Women in Financial Advice Awards 2026: Nominations close today!

Women in Financial Advice Awards 2026: Nominations close today!

Awards to be held at Hilton Bankside in London

Professional Adviser
clock 08 May 2026 • 1 min read
'Quality is the golden thread' – why Benchmark won Best Advice Network

'Quality is the golden thread' – why Benchmark won Best Advice Network

PA Awards 2026 winner shares secrets to success

Professional Adviser
clock 29 April 2026 • 3 min read
Editor's message: When new beginnings come together

Editor's message: When new beginnings come together

Professional Adviser will be back on Tuesday

Jen Frost
clock 02 April 2026 • 1 min read