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  5. Treasury recommendations are a sticking plaster solution to pension tax reform Treasury recommendations are a sticking plaster solution to pension tax reform

16 January 2020

Treasury recommendations are a sticking plaster solution to pension tax reform

2 min read

 
Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings

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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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Helen Morrissey, Corporate PR Specialist – Long Term Savings

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.

At Royal London, we’re proud to champion the value of impartial advice. We believe it plays a crucial role in connecting people with the products that are right for them – and is key to delivering better outcomes and experiences for our customers. At the same time, it helps to build trust in our products and services.

Royal London works alongside advisers not in competition with them. That’s why we’ve made some key commitments to the intermediary market. You’ll find more detail on our commitment to advisers at http://adviser.royallondon.com/campaigns/our-commitments/