Here’s an idea for our current Chancellor. Yes, by all means cap pension tax relief at 20%. But then at the same time, scrap all the annual and lifetime allowances which were designed to stop high earners creaming the pension system. Lower tax relief would offer similar, but more straightforward discouragement. It’s the ‘straightforward’, of course which means it’s unlikely to happen. There would at once be so many exceptions included or lobbied for that it would be anything but. Anyway, come the revolution…
“Why you should never retire”
On my 50th birthday, I will always remember, amongst the card or two I received was a letter from Saga’ who’d managed to find out my age through the wonder of the internet, and were pleased to tell me I now qualified to join my parents and go on holiday with them.
