We need to see action on net pay issue

3 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 the Budget announcement.

“In a Budget dominated by the response to Coronavirus there was concern the issues experienced by those in schemes operating net pay arrangements would be kicked into the long grass.

!For too long, there have been too many low earners, a large proportion of which are women, losing out on valuable tax relief just because of how their scheme is administered. It is positive to see the Government is committed to reviewing options with a call for evidence to be issued soon - we need to see action on this.”

 

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 £139 billion, 8.6 million policies in force and 4,348 employees. Figures quoted are as at 30 June 2020.