Pensions - Articles - Budget:Green Paper and pension tax relief, comment from JLT

  “We welcome any genuine consultation to put pensions onto sound footing for the future, recognising that it’s just one form of overall saving. There may be concerns about a hidden agenda or unintentional consequences with young people being particularly vulnerable to future changes in policy before they retire.”
 
 On Pension tax relief:
 Hugh Nolan, Chief Actuary, JLT Employee Benefits, comments: “Top 1% of taxpayers get 14% of pensions tax relief, so the Budget removes up to £13.5k tax relief from highest earners. There will be administration nightmare for employer and employees impacted by this.”