Royal London chief warns of 'real risk' to saving under ISA-style pensions

Phil Loney (pictured) criticised the government's suggestion pension tax treatment could be changed so savers contribute taxed income when paying in and receive tax relief when taking the money out further down the line, saying savers would probably not trust the system. Chancellor George Osborne announced in this year's Summer Budget the government would examine the tax treatment of pensions, with a possibility to change taxation to the type used for ISAs. Currently, people receive tax relief when paying into a pension and a tax-free allowance on 25% of the value of the pot upon with...