UK's pensions tax relief spend a 'poor allocation of resources'

Think tank moots ‘redesign’ of pensions system

Holly Roach
clock • 2 min read

The UK’s £50bn spend on pensions tax relief is a “poor allocation of resources”, think tank Common Wealth argues.

A report by the organisation highlighted the risks it expects the government's forthcoming pensions review will under-deliver. According to the think tank, the government's idea of consolidating pension funds to create fewer, larger ones is "not confronting the systemic issues facing pensions". It also argued the government's "reluctance" to challenge employer contributions is "particularly puzzling". It added compelling funds to allocate 25% to UK assets – an idea mooted by the Tony Blaire Institute for Global Change and supported more recently by former pensions minister Baroness Ro...

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