If government reduces pensions tax relief to 20%, the ‘squeezed middle' could be £3,000 worse off per year in retirement, says Fidelity Worldwide Investment.
A higher rate tax-payer investing £4,000 into a personal pension could lose £56,000 over a period of 20 years of saving. At today's rates, that compares to an annuity of almost £3,000 per year for a...
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From 6 April 2020
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