Treasury must merge pension and ISA tax regimes - Michael Johnson

The Centre for Policy Studies research fellow, who earlier this year proclaimed the death of pensions, argues the current savings landscape is characterised by a "fundamental schism" between pensions and ISAs. He said up-front tax relief on pension contributions should be abolished and a workplace ISA should be introduced instead of traditional retirement savings vehicles. Johnson called for a wholesale shift from the current tax relief system attached to pensions - 'exempt, exempt, taxed' (EET) - to 'taxed, exempt, exempt' (TEE) relief on savings. He said it was a logical progress...