Helen Morrissey, pension specialist at Royal London comments on today’s story in The Times which says HM Treasury intends to raise the threshold at which the tapered annual allowance kicks in.
“While this news will be good for some in reality it is further evidence of HM Treasury choosing to tinker at the edges rather than tackle the source of the problem which is that the taper must be scrapped. In short this is like using a sticking plaster in place of major surgery – we need reform of pension tax relief.”
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For further information please contact:
Helen Morrissey, Corporate PR Specialist – Long Term Savings
- Email: helen.morrissey@royallondon.com
- Tel: 0203 272 5433
- Mob: 07919 170 712
About Royal London
Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £130 billion, 8.8 million policies in force and 4,046 employees. Figures quoted are as at June 2019.
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