Budget 2010: Treasury admits tax-relief restriction will cost employers £330m

Jonathan Stapleton
clock

HM Treasury has trebled its estimate of the one-off costs that pension schemes, employers and individuals will incur as a result of the tax on higher earners' pension contributions it is introducing from 2011, Towers Watson says.

The consultant said it has also increased its estimate of the annual costs of administering the new tax by more than one quarter. The new impact assessment - published alongside yesteday's Budget...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Partner Insight: Aon UK Risk Settlement Bulletin - Q3 2026

Partner Insight: Aon UK Risk Settlement Bulletin - Q3 2026

Latest edition of the Aon UK Risk Settlement Bulletin is now available.

Aon
clock 05 August 2026 • 1 min read
PIC completes build-to-rent development in Birmingham

PIC completes build-to-rent development in Birmingham

Specialist insurer has completed the development, One Eastside, which is the city’s tallest building

Alex Levy
clock 03 August 2026 • 1 min read
DB surpluses should be viewed as strategic assets, not just opportunities

DB surpluses should be viewed as strategic assets, not just opportunities

Hughes Price Walker says decisions must balance security, employer objectives and scheme resilience

Holly Roach
clock 30 July 2026 • 2 min read
Trustpilot