Advisers shun govt plans for ISA-style pensions and flat rate tax relief

Carmen Reichman
clock

The majority of advisers have joined the chorus against a switch to ISA-style pension taxation, or move to introduce a flat rate of pension tax relief, research suggested.

Only a third advisers supported the move to a flat rate tax incentive and there was almost no support for ISA style pensions, provider AJ Bell found after questioning 170 advisers. The government is currently looking into a change in the tax relief people get on their retirement savings - from upfront to an Isa-style relief on withdrawal - in its ‘Strengthening the incentive to save' consultation. Drawing on recommendations by The Centre for Policy Studies, which called for a full unification of pensions and ISA regimes, the government wants see whether the move would entice people to...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pensions campaigner and former WPC chair Frank Field dies aged 81

Pensions campaigner and former WPC chair Frank Field dies aged 81

Field was a former Work and Pensions Committee chair and a welfare champion

Professional Pensions
clock 24 April 2024 • 5 min read
Crucial advice issue: Death benefits detail advisers need to know

Crucial advice issue: Death benefits detail advisers need to know

Important differences from previous regime

Andrew Tully
clock 05 April 2024 • 4 min read
British Steel a stark reminder of obligations around client files

British Steel a stark reminder of obligations around client files

Lawyer Philippa Hann reflects on her work around the pensions case

Hope Coumbe
clock 27 March 2024 • 2 min read