FT - Tories to raid tax relief pensions

JoeCrystal

JoeCrystal said:

I am looking forward to seeing if there are any things useful for the retirement provision as well any improvement in the taxes, especially for a single childless healthy person. 

Pity.

Paul_Herring

JoeCrystal said:

JoeCrystal said:

I am looking forward to seeing if there are any things useful for the retirement provision as well any improvement in the taxes, especially for a single childless healthy person. 

Pity.  

You're there to be taxed to pay for other married, unhealthy people's children...  

JoeCrystal

Paul_Herring said:

You're there to be taxed to pay for other married, unhealthy people's children...  

Indeed, the singletons living on their own are the one paying through the nose. I am rather annoyed by budget's pensions tax breaks for higher earners are now more generous

Anonymous101

Looks like at least at least another 12 months of tax relief... get it in while you can.

Mick70

Anonymous101 said:

Looks like at least at least another 12 months of tax relief... get it in while you can.

as others have said, it is threatened every year , but if they take away or reduce relief they take away some of the incentive to pay into a pension and with an ageing population that would make little sense ,  also would need to impact final salary pension schemes as well or would be grossly unfair ,  would also cost the govt votes 

Mistermeaner

JoeCrystal said:

I am rather annoyed by budget's pensions tax breaks for higher earners are now more generous

high earners will still be paying the bulk of taxes - looking to take even more is counter productive

Filo25

No other pension measures in the red book beyond indexing the LTA.

Not even an announcmeent of consultation on tax relief, feeling more optimistic that this may stay in place, realistically I doubt they would want to change it after 2021, using the usual strategy of burying the bad news at the start of the parliament.

Anonymous101

Mick70 said:

Anonymous101 said:

Looks like at least at least another 12 months of tax relief... get it in while you can.

as others have said, it is threatened every year , but if they take away or reduce relief they take away some of the incentive to pay into a pension and with an ageing population that would make little sense ,  also would need to impact final salary pension schemes as well or would be grossly unfair ,  would also cost the govt votes 

I agree, the merits for its removal are debatable. I just like to use the threat of the removal as an incentive to save as much as possible into my pension. Once I've got enough in there I may think differently about my working arrangements, losing 32% of my earnings to tax irks me bad enough. 42% really does make me question just how much of a good investment of time working is. 

Mick70

if younger people are put off paying into pensions then we really do have a ticking time bomb 

Paul_Herring

losing 32% of my earnings to tax irks me bad enough. 42% really does make me question ...

You're missing the other 13.8% of your earnings that goes to the government, instead of into your bank on both of those numbers...