Chancellor looks to cut annual allowance

clock • 1 min read

George Osborne is considering a new tax raid on the pension contributions of richer voters, after rejecting the idea of a "wealth tax" based on higher council rates for luxury homes and apartments.

The chancellor has promised to balance a planned welfare squeeze - needed to achieve a futher £10bn of benefit savings by 2015-16 - by imposing new taxes on the wealthy. Although Osborne's aides...

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 Law and Regulation

Why trustees should let sponsors take the lead on VAT recovery

Why trustees should let sponsors take the lead on VAT recovery

Matthew Swynnerton says trustees should not be pressured to explore theoretical solutions

Matthew Swynnerton
clock 17 September 2026 • 3 min read
DWP launches consultation on implementing small pots default consolidator solution

DWP launches consultation on implementing small pots default consolidator solution

Government aims to have small pot consolidation operational from 2030

Jonathan Stapleton
clock 15 September 2026 • 2 min read
Pensions UK: Schemes should not be asked to keep paying for a broken levy

Pensions UK: Schemes should not be asked to keep paying for a broken levy

Zoe Alexander says general levy proposals impose unfair costs on schemes

Zoe Alexander
clock 15 September 2026 • 5 min read
Trustpilot