100 years in the making: A history of pensions tax relief

Policy has evolved substantially since the Finance Act 1921, says Jane Marshall

clock • 6 min read
100 years in the making: A history of pensions tax relief

Life used to be simpler. One hundred years ago a ground-breaking piece of legislation - the Finance Act 1921 - enacted the framework for pensions tax relief that remained broadly intact for most of the 20th century.

Pensions policy was admirably clear. Saving for retirement was to be encouraged so that levels of poverty, which had blighted previous generations of working people, could be eradicated. Employers were...

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