The Treasury will net an additional £1.15bn in taxes as a result of defined benefit (DB) members transferring to take advantage of incoming defined contribution (DC) freedoms.
In the Autumn Statement, delivered today, the government revealed tax triggered by former DB members cashing in their pots would raise £95m in its first year, rising to £325m by 2018/9 before falli...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- 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
