Nucleus: Pension tax tinkering must end to restore consumer trust

Platform wants independent long-term savings commission

Jenna Brown
clock • 1 min read

Nucleus has again called on politicians across the political spectrum to set up an independent long-term savings commission to address chronic under-saving.

In an open letter, the platform urged pension minister Paul Maynard and Labour shadow minister for pensions Gill Furniss to agree on a consistent pension and savings policy to boost retirement savings. It also called on the government to stop the "constant tinkering to pension tax rules" which it said was deterring people from engaging with the system. Nucleus said the "pension legislation merry-go-round" had further eroded trust in pensions and while auto-enrolment had significantly boosted the numbers of savers the amounts being put away would not provide a comfortable retirement. ...

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

Salary sacrifice change to 'hit' more than three million workers

Salary sacrifice change to 'hit' more than three million workers

Government releases impact assessment

Jen Frost
clock 05 December 2025 • 3 min read
Andrew Tully: Plummeting pensions confidence is 'siren call' for wide-reaching action

Andrew Tully: Plummeting pensions confidence is 'siren call' for wide-reaching action

'We're seeing a deep erosion of trust in the retirement system'

Andrew Tully
clock 05 December 2025 • 3 min read
When is a SIPP not a SIPP? Time for a terminology rethink

When is a SIPP not a SIPP? Time for a terminology rethink

'I would suggest that it’s time to review the use of the term SIPP,'

Caitlin Southall
clock 01 December 2025 • 4 min read