29 October 2018

Respite on pension tax relief likely to be temporary

2 min read

 
Steve Webb - Director of Policy

Steve Webb

Director of Policy, Royal London

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Commenting on today’s Budget, Steve Webb, Director of Policy at Royal London said:

"The Chancellor’s windfall from better-than-expected borrowing forecasts meant that he did not have to cut back pension tax relief in this Budget.  But having described the system as ‘eye-wateringly expensive’ it is likely to be only a matter of time before this Chancellor – or his successor – comes back for more. Today’s respite for pension tax relief is likely to be only temporary."

-ENDS-

For further information please contact:

Steve Webb, Director of Policy

About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June.

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