Legal & General pensions calls for £45k annual allowance
www.moneynews.co.uk > Pensions > Legal & General pensions calls for £45k annual allowance
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Legal & General pensions calls for £45k annual allowance
Wed 28th Jul 2010
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Adrian Boulding, pensions strategy director at the firm, explained that this could be combined with the 40 per cent cap on higher-rate tax relief on contributions.
In his view, it is essential that the incentive to save is not "eroded" by inflation in the future, as putting money aside should be actively encouraged.
Mr Boulding made his comments after the HM Treasury Restriction of Pensions Tax report was published.
He remarked: "The discussion document is particularly welcome as it recognises the importance of creating incentives to save at all levels of the salary scale."
The Legal & General pensions expert highlighted how the chancellor of the Exchequer's emergency Budget last month suggested that a simpler tax system on long-term savings is being planned.
This week, the National Institute of Economic and Social Research suggested the chancellor had been too optimistic with his predictions about the economy.
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Related News : Legal and General |
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