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Higher-rate tax relief for pensions

I would just like to clarify my position with respect to higher-rate tax relief for pensions.

Contrary to the article of October 24 in Money Marketing, I am not proposing scrapping higher rate. It was a comment from the Inland Revenue which apparently talked about this.

My proposal is that everyone should get higher incentives for their pension savings – the same value for everyone, regardless of their current income or age.

This would be levelling up, rather than levelling down and trying to improve the incentives for pension savings to attract people to provide for their retirement.

Ros Altmann

Independent policy consultant & governor,London School of Economics

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