Chancellor George Osborne has steered clear of reforms to pension tax relief.
Giving his Budget speech today, Osborne (pictured) announced plans introduce a limit on all uncapped income tax reliefs.
However, this will not be extended to pension contributions.
Osborne said: “I don’t intend to make any significant changes to pensions relief in this Budget.”
Pre-Budget reports had suggested the Chancellor was considering cutting the annual allowance for tax privileged pension saving from £50,000.