Tax Relief for Pension Saving in the UK
This report provides an overview of the pension tax relief system and examines the rationale for tax relief. It also considers the extent to which tax relief incentivises pension saving and considers some alternatives to the current system, including adjustments to the current system, changes to the tax free lump sum and the use of a single rate of tax relief.
Click here to download the full report.
To view the press release, please click here.
The research was launched at the Institute and Faculty of Actuaries. A write up of the launch can be found here and the presentation slides used during Chris Curry's presentation can be found here.
This research has been sponsored by Age UK, the Institute and Faculty of Actuaries, Partnership and the Trades Union Congress. The PPI would like to thank the sponsors for their input and support throughout the project. Sponsorship has been given to help fund the research and does not imply agreement with, or support for, the analysis or findings from the project.
Keywords: tax relief, matching contributions, tax incentives, lifetime allowance, annual allowance, tax-free, lump sum, trivial commutation, Inland Revenue, HMRC, Her Majesty's Revenue & Customs, HM Treasury, Budget, pre-Budget,
DC, Defined Contribution, DB, Defined Benefit, Risk Sharing, Risk-sharing, Hybrid, Stakeholder, Personal Pension, Non-State, Contracted In, Contracted Out, COSR, COMP, GMP, Guaranteed Minimum Pension, Employer, Charges, Employer Sponsored, Contribution, Investment, PPF, Pension Protection Fund, Liabilities, Assets, Deficit, Surplus, Funding Level, Membership, Scheme Funding, Employer Covenant, annuity, annuities, annuitisation, annuitization, draw-down, drawdown, pension income, earnings, assets, state pension, private pension,