Master trusts failing low paid earners on pensions tax relief

Victoria Tichá
clock • 3 min read

Low income earners in the majority of master trusts are missing out on tax relief on their retirement savings due to a legislative technicality, according to research.

While master trusts have grown to represent over 35% of the workplace savings market and account for the savings of over seven million defined contribution (DC) scheme members in the UK, only three...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Patrick Heath-Lay: Industry not doing enough to make transfers work for members

Patrick Heath-Lay: Industry not doing enough to make transfers work for members

Master trust CEO says VfM metrics should apply across all DC pensions

Patrick Heath-Lay:
clock 02 May 2024 • 4 min read
Industry says 'magnetically attached' pensions will address small pots issue

Industry says 'magnetically attached' pensions will address small pots issue

However, PP survey finds concern around implementation challenges

Jasmine Urquhart
clock 01 May 2024 • 2 min read
Average DC default has 10% invested in top US tech firms

Average DC default has 10% invested in top US tech firms

PensionBee finds average £20,000 pot has £2,033 invested in US tech giants

Jasmine Urquhart
clock 01 May 2024 • 2 min read
Trustpilot