Steve Bee posits one-rule-for-all on pension tax relief

Tagging the rate of tax in this way would wash away the controversy caused by the reliefs available to higher rate taxpayers, who are seen to benefit the most under the existing model. The move would also help basic rate taxpayers who, though benefitting from the relatively-new 20% rate today, have no guarantees it will remain at that level in the future, he said. Bee's comments follow a suggestion from the Pensions Policy Institute that tax relief has failed as an incentive to encourage saving, while the Conservative Party's 40 Group called for the abolition of higher rate relief. ...