Pension raiding?

lemma1968

I told my mum yesterday that I had started paying into a stakeholder pension (i'm 40...took me a little while to catch up on the fact that middle age is catching up with me!!!:p )

She looked alarmed and said that she thought our illustrious PM and Chancellor may soon feel the need to do a bit of pension raiding in order to assist with the ongoing financial crisis.

I'm interested on what the IFA's amongst the MSE fraternity have to say about this.

I suspect they may try and abolish the 25% tax free lump sum...but would they dare raid the pension funds?:eek:

dunstonh

She looked alarmed and said that she thought our illustrious PM and Chancellor may soon feel the need to do a bit of pension raiding in order to assist with the ongoing financial crisis.

He's going to be stealing sweets from Children next.

I'm interested on what the IFA's amongst the MSE fraternity have to say about this.

Only likely change is removal of higher rate tax relief in the future.

I suspect they may try and abolish the 25% tax free lump sum...but would they dare raid the pension funds

The Govt cannot raid pension funds. The tax relief can go, tax free growth can go and TFC can go. However, the Govt still needs people to fund for retirement. Also, it has already made changes and greater income can be made by reducing the amount state pension and govt backed pensions that are paid.

dasherman

Our Gordon has already raided the nations pension schemes by removing tax credits on share dividends to the tune of £5 billion per year.

lemma1968

I do not get that warm and cuddly feeling when our learned PM's name is mentioned:p

Dunstonh - don't joke about the kiddies sweets....there's not going to be much left to raid or nationalise soon, needs must!!!:eek: :eek: