Tax reform risks 'discouraging' people from saving

The SPP said the pensions tax system is complex and often misunderstood by savers

Holly Roach
clock • 2 min read

There is a risk that any reform to pensions tax could discourage people from saving for retirement if the key issues are not understood, according to the Society of Pension Professionals (SPP).

The SPP's paper on pension tax ‘myth-busting' revealed the pensions tax regime is a "complex and often misunderstood area" and, if not understood when proposing reform, could make a "complex tax sy...

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 Industry

Industry supports enhanced regulatory requirements for UK life insurers

Industry supports enhanced regulatory requirements for UK life insurers

Comes after the Prudential Regulation Authority unveiled new proposals for insurers

Holly Roach
clock 15 May 2026 • 1 min read
Women in Pensions 2026: Entries close in one week!

Women in Pensions 2026: Entries close in one week!

Individuals and organisations nominated have until 22 May to complete entries

Professional Pensions
clock 15 May 2026 • 1 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Schemes react to Virgin Media remedy, King’s Speech, Scottish Widows report

Professional Pensions
clock 15 May 2026 • 1 min read
Trustpilot