UK. Pension raid on middle-class savers is off the cards
The Treasury has ruled out the biggest pension tax raid in nearly a century after the Treasury has privately admitted that “now is not the right time”.
The Telegraph can reveal the department has privately reassured businesses in correspondence sent out this month that a proposed raid on wealthy pension savers will not take place for the foreseeable future.
It comes just weeks before Theresa May is due to trigger Article 50 which will begin the process of Britain leaving the EU.
In a recent letter seen by this newspaper, Jane Ellison MP reassured the chief executive of one of Britain’s biggest pension firms, AJ Bell, that the Government would not be making any further changes to pension tax relief.
The letter said: “As you are aware, an extensive consultation was conducted last year which considered changes to the pensions tax framework. This concluded that now was not the right time to undertake significant reform. Given this the Government does not think that it is necessary to convene an independent pensions commission at this time.”
Full Content: The Telegraph
