Blog: Is this the beginning of the end for tax relief?

Plans for a universal state pension signify the end of government provision as the main source of retirement income. It sets in stone the principle that the State provides a basic payment only; it cannot be increased according to need. Effectively, the government is employing tough love and saying the next generation of pensioners will have to stand on their own two feet. Getting tough on pensions is a theme for this government. At the same time as allowing more freedom, with the end of compulsory annuitisation, the government could be planning to remove the incentives to save. In ...