HMRC figures revealed the cost of pensions tax relief increased by more than £4bn in 2019/20
Pension body urges government to consider four key policy areas in 2021 Budget
While the benefits are obvious to the industry, they make little headway with savers, Cushon says
For incentives to work, they must be understood – and that is not the case, says Baroness Ros Altmann
The Treasury has ruled out any immediate changes to pensions tax relief, noting the “profound and far-reaching impacts” of an overhaul.
A quarter of savers are more likely to increase their pension contributions if they had a better understanding of the pensions tax relief system, according to research by Royal London.
The government’s much-awaited ‘Tax Day’ was met with little fanfare as predictions of cuts to higher-rate tax relief again failed to materialise.
The industry has been speculating on what chancellor Rishi Sunak will announce in the Spring Budget, with expectations that freezing the lifetime allowance, the introduction of a flat rate of tax relief, and a review of auto-enrolment (AE) will be among...
With rumours once again swirling around the future of pensions tax relief in the run up to this year's Budget, any reduced incentive for long-term savers could risk further exacerbating the generational divide in pensions, says Tom Selby
HM Revenue & Customs (HMRC) must evaluate the benefits that are provided by pensions tax relief, MPs have said amid concerns the tax office does not understand the impacts.