Tax-free lump sum

Pension experts have broadly welcomed Treasury plans to consult on allowing access to 25% of pension savings tax free before retirement but warn the new rules must be kept as simple as possible.

Industry figures are rushing to lobby the government on crucial pensions issues ahead of tomorrow's emergency Budget.

The government should prioritise encouraging people to save for their retirement rather than focusing on preserving tax relief, B&CE Benefit Schemes says.

IRELAND - The Irish taxation commission has proposed tax relief changes on pension payments in a bid to make the tax treatment of retirement savings fairer.