Advisers shun govt plans for ISA-style pensions and flat rate tax relief

Carmen Reichman
clock

The majority of advisers have joined the chorus against a switch to ISA-style pension taxation, or move to introduce a flat rate of pension tax relief, research suggested.

Only a third advisers supported the move to a flat rate tax incentive and there was almost no support for ISA style pensions, provider AJ Bell found after questioning 170 advisers. The government is currently looking into a change in the tax relief people get on their retirement savings - from upfront to an Isa-style relief on withdrawal - in its ‘Strengthening the incentive to save' consultation. Drawing on recommendations by The Centre for Policy Studies, which called for a full unification of pensions and ISA regimes, the government wants see whether the move would entice people to...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

How retirement planning has transformed over the past 50 years

How retirement planning has transformed over the past 50 years

PPI report looks at the move from predictable pensions to personal responsibility

Jonathan Stapleton
clock 21 November 2024 • 3 min read
Act now: Planning for retirement is a concern for today

Act now: Planning for retirement is a concern for today

'Don't wait until tomorrow to think about retirement'

Andrew Tully
clock 20 November 2024 • 4 min read
Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Report published as Reeves delivered inaugural Mansion House speech

Jonathan Stapleton
clock 15 November 2024 • 4 min read