NAPF conference 2009: Cooper dismisses fears over contribution tax

Answering a question from a delegate at the National Association of Pension Funds annual conference, she confirmed there were no plans to alter the current system. She said: "The tax relief is an incentive for people to save for old age. But I think the fairer way to do it is not to give too much relief to people who can afford to save anyway and in other forms." Cooper also said the argument that the decision to scrap tax relief for those earning more than £150,000 - announced the last budget - would lead to scheme closures was "implausible". During her speech Cooper insisted very...