Advisers and savers should be watching several pension issues closely at the start of the new year as developments around government policy could alter the landscape, according to Evelyn Partners.
Financial planning director Gary Smith highlighted that under the current regime, pension saving is attractive, and that far from disrupting that state of affairs the recent Autumn Statement just "enhanced" it. He pointed out that as the income tax and thresholds are falling in real terms until 2029, and the additional rate threshold will drop in April. This makes pension saving attractive as it is one of the only ways to mitigate against income tax. "Those now earning between £125,140 and £150,000 will suddenly receive 45% - rather than 40% - tax relief on personal contributions once...
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