Cost of pension tax relief rises to £27bn

LCP said the rising costs should be welcomed as evidence of the success of auto enrolment

Jasmine Urquhart
clock • 1 min read
LCP says rise in pension tax relief should be welcomed
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LCP says rise in pension tax relief should be welcomed

The cost of pension tax relief has risen to £27bn in 2022/23, according to government figures released today (12 January).

The figures from HM Revenue & Customs show the estimated cost of income tax relief on pension contributions in the 2022-23 tax year is likely to be around £5bn higher than five years ago, and will ...

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Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

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