Martin Tilley: Banging the pensions tax relief drum

Michael Johnson has been calling for a radical realignment of savings incentives since his paper in November 2012, Why Pension Tax Reliefs Should be Reformed, and the scrapping of tax relief since the CPS statement of April 2014. In that 2014 statement, Johnson suggested getting rid of the current tax relief framework, replacing it with a Treasury contribution of 50p per £1 saved, up to an annual allowance and paid irrespective of the saver's taxpaying status. He also suggested scrapping the 25% tax-free lump sum. Neither proposal was taken on board. More than four years later, we are...