Alistair Darling's third Budget is just hours away and, despite much industry speculation, we still have little idea what he might announce for the pensions market.
While I am no soothsayer, I can share with you what I would like the chancellor to announce this afternoon. Firstly, and perhaps most importantly, Darling should change proposals restricting higher-rate tax relief on pensions for those earning over £130,000 - plans originally announced in last years Budget and expanded upon in the Pre-Budget Report (PBR) in December. The restrictions are fiendishly complicated and could, according to the National Association of Pension Funds (NAPF), affect people earning as little as £40,000. So, Darling should scrap these rules and replace them wi...
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