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  5. Change to taper welcome but Chancellor has missed ideal opportunity to simplify pension tax system Change to taper welcome but Chancellor has missed ideal opportunity to simplify pension tax system

11 March 2020

Change to taper welcome but Chancellor has missed ideal opportunity to simplify pension tax system

2 min read

 
Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings

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Clare Moffat, head of business development at Royal London comments on the Budget.

“The Chancellor’s decision to raise the threshold at which the tapered annual allowance kicks in is welcome but the pension tax system remains overly complex. In reality the Chancellor has missed the ideal opportunity to massively simplify the system by removing the taper altogether.”

 

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London:

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £138.9 billion, 8.6 million policies in force and 4,126 employees. Figures quoted are as at 31 December 2019.