Retirement calculator benefits from stability of tax relief, says LV=

www.moneynews.co.uk > Pensions > Retirement calculator benefits from stability of tax relief, says LV=

Retirement calculator benefits from stability of tax relief, says LV=

Fri 3rd Sep 2010

A finance expert from LV= has suggested that consumers aiming to calculate their retirement income would benefit from a stable and simple system of tax relief.

Ray Chinn, head of pensions at the firm, noted the aim for businesses and individuals is to plan for the future with confidence, which means a fair regime needs to be in place.

He added: "We believe a lower annual allowance would act as an effective cap on tax relief, meaning the lifetime limit could be removed to simplify the rules for savers."

The LV= representative made his comments in response to the Treasury's consultation on tax relief on pensions, with Mr Chinn stating that he hopes his remarks help members get the best deal possible in the future.

Last month, the same company claimed that equity release could soon become a big part of people's long-term savings strategies, as a result of the UK's ageing population.

Click here for more pensions news 

Related News : Pensions
	Over-55s don't believe in paying for care, reveals Aviva
	East Midlands comes top in pension contributions
	Corporate pensions provider issues advice for businesses
	One third of workers have no pension, claims Prudential
	More than a third of Brits fail to reassess pension risk, claim experts
	Women protest at No 10 over proposed pension reforms
	Retirement age 'to be brought forward by ten years'
	Interest rates held at 0.5 per cent by Bank of England
	Pension contributions fall in recession, ONS reveals
	Equity release for retirement 'might not suite every household'

Related News : LV=
	New annuity launched by LV=
	Retirement age 'to be brought forward by ten years'
	Equity release decisions 'need to be carefully considered'
	Equity release should be carefully considered, claims expert
	Equity release rules simplified by LV=
	Barings report shows huge numbers without pensions
	Equity release to replace pensions, suggests LV= survey
	LV= simplifies equity release regulations and cuts mortgage rates
	LV= urges govt to keep pensions calculator reform on the table
	LV= supports pensions calculator proposal