Pension savers missing out on £720m

Research from Unbiased.co.uk has revealed working people in company pension schemes are missing out by neglecting to save in tax-efficient ways. High-rate taxpayers who are members of their employers' occupational pension scheme will miss out on an extra £720m tax relief this year by failing to make Additional Voluntary Contributions (AVCs). AVCs allow employees to pay extra funds into their pension which should result in a larger pension pot at retirement. David Elms, chief executive of Unbiased.co.uk, comments: "Failing to save for retirement has become an increasing problem for the...