The well-off are receiving tax breaks on pension contributions worth on average 20 times those of ordinary workers, according to reports.
People in the UK earning more than £150,000 a year and paying into pensions attract tax relief averaging £12,000 annually. This compares with just hundreds of pounds for the typical pension saver, according to a report in The Telegraph. In some cases, top earners are pocketing pension relief worth £25,000 a year, close to average gross earnings in the country. The Telegraph's report was based on research which originally appeared on investigative news site Exaro. The research used government figures to calculate the 20-times multiple in average tax savings for the UK's highest earners...
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