Sacrificial reforms? Advisers on pensions Budget 'loophole'

The government hasn't properly thought through its once-in-a-lifetime pension reforms, according to some. Indeed, measures announced at Budget 2014 to give people aged 55 or over greater access to their pension pots could wind up costing the Treasury up to £20bn a year thanks to the apparent presence of a loophole. The problem, aired most frequently by journalist John Greenwood, including at a recent House of Commons committee hearing, goes like this: The freedoms announced in March by George Osborne will permit workers aged 55 to 64 to undertake 'salary sacrifice' by paying their ...