Chancellor Rishi Sunak sent a confusing message to pension savers when he froze the lifetime allowance in the Budget, writes Kay Ingram. If investment success could be rewarded with a tax bill, it creates a bizarre disincentive.
Pre-Budget rumours that tax relief on pension savings would be reduced to a standard rate, rather than the more generous marginal income tax rate of 40p or 45p in the pound did not surface in Sunak...
To continue reading this article...
Join Professional Pensions
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date
