UK - The Conservatives have pledged to reverse the multi-billon pound pension "tax raid" introduced in 1997 by then chancellor Gordon Brown.
Speaking at the party conference in Manchester treasury spokesman George Osborne said Brown's "disastrous tax raid on pensions heralded the start of the age of irresponsibility".
He said: "We will reverse the effects of Gordon Brown's pensions tax raid and get our country saving again."
The tax changes abolished the right for occupational schemes to reclaim tax paid on income from share dividends. It is estimated the change cost schemes £5bn (US$8bn) a year.
Watson Wyatt head of defined benefit pension consulting John Ball said reversing the effects of the changes may not mean reversing the tax change itself.
He explained: "Abolishing dividend tax credits was a classic stealth tax and reversing it would be a stealth tax cut. If a future government did find the resources to reward pension saving, it may choose to do so in a way that people can more easily understand."
Osborne also announced he intended to find ways to impose a £50,000 annual cap on the size on public sector pension payouts.
Ball commented: "The biggest public sector pensions may be an obvious place to start but more wide-ranging changes would be needed if the Conservatives want public sector pension reform to make a significant contribution to repairing the public finances."
He added it would be interesting to see what the policy meant in practice.
"Capping the amount of pension paid out rather than the value of benefits earned each year would not in itself preclude very generous pensions for high earners who only work in the public sector for short time," he said.
Punter Southall technical director Joanne Livingstone said it was disappointing the Tories had "climbed on the bandwagon" of attacking large public sector pension payments.
She said Osborne had not considered the restrictions already in force under the pensions tax system.
She explained: "While it is true that there is no absolute cap on the amount of pension that a member can receive, the tax system is such that all the advantages of a pension are stripped away where the annual pension exceeds £87,500."
Livingstone added that imposing an additional cap on pensions would add another level of complexity to an already over-complex system.
"The continuing provision of public sector pensions is clearly an important issue in the current financial climate. It is important that this discussion should take place in an atmosphere of informed debate and not look to impose quick-fix solutions when the existing system already provides much of the necessary restraint."
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