Crunching the numbers: What parties' pension tax plans mean for your clients in monetary terms

Fidelity Worldwide Investment retirement director Alan Higham has crunched the numbers on what each of Labour's, the Conservative's and the Liberal Democrat's pension plans mean in monetary terms. Labour has announced it plans to cut the rate of tax relief for those earning more than £150,000 a year - the threshold for paying the 45% additional rate of income tax - to basic tax. Higham said this effectively takes pension contributions at 31.25% as well as increasing the 45% higher rate income tax rate up to 50%. Meanwhile, the Conservatives have said they would limit the amount tho...