LEBC pushes major parties to end self-employed 'pension poverty'

The IFA firm's chief executive Jack McVitie has asked the three major parties to address retirement poverty in their manifestoes, in a letter sent this week. McVitie called on the Liberal Democrats, Labour and Conservative parties to implement an advice allowance of £500 per year and restore carry back relief for pension savings, which was scrapped in 2006. He said carry back relief, whereby pension savings could be made after the end of a tax year but carried back for tax relief purposes to the previous tax year, was especially helpful for the self-employed. This relief would enab...