Higher rate taxpayers face pension pot 'dent' under rumoured 25% flat rate relief

There are rumours that Chancellor Rishi Sunak is planning on reforming pensions tax relief so everyone receives a flat rate of 25%. If this happens, basic rate taxpayers will be better off while higher rate taxpayers could see their pension funds dip. Aegon pensions director Steven Cameron said: "This is seen by many as a fairer way of sharing this government incentive across people of all earnings bands but would also likely produce a cost-saving for the Treasury. "It would be good news for basic rate taxpayers who'd receive a more generous bonus but would create a big dent in the fu...