Gold-plated 'final-salary' pensions could be subject to a lower lifetime limit, which would see savers pay more tax at 55pc
Last week savers with the most generous types of work pension – known as “final salary” or “defined benefit” – were shocked to learn that the Government is gearing up for a major raid on their pensions.
Telegraph Money disclosed Treasury plans to limit the tax reliefs, or Government top-ups, available to future contributions into such schemes.
The blow would fall heavily on the upper ranks of the public sector, including MPs, civil servants, doctors and other NHS workers, and senior teachers, among others.
Under the proposals, instead of being able to claim higher rate tax relief on pension contributions at a rate of 40pc, the relief will be limited to the basic 20pc rate.
Source: Government plans to extend the 55pc pension tax trap - Telegraph
AtW's comment - gold plating attracts thieves!
Govt is running out of relatively well off groups of people to shaft hard - no doubt that MPs would get some special platinum plating!
Last week savers with the most generous types of work pension – known as “final salary” or “defined benefit” – were shocked to learn that the Government is gearing up for a major raid on their pensions.
Telegraph Money disclosed Treasury plans to limit the tax reliefs, or Government top-ups, available to future contributions into such schemes.
The blow would fall heavily on the upper ranks of the public sector, including MPs, civil servants, doctors and other NHS workers, and senior teachers, among others.
Under the proposals, instead of being able to claim higher rate tax relief on pension contributions at a rate of 40pc, the relief will be limited to the basic 20pc rate.
Source: Government plans to extend the 55pc pension tax trap - Telegraph
AtW's comment - gold plating attracts thieves!
Govt is running out of relatively well off groups of people to shaft hard - no doubt that MPs would get some special platinum plating!
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