Summary of responses on the consultation on pensions tax relief

In the Summer Budget of 2015 the Chancellor announced a Green Paper to discuss how best to incentivise pension savings, stating the Government needed to control the cost of pensions tax relief in the short term and make sure that the support provided to pension savers is affordable and targeted where it is needed most.

What was announced?

The Government stated it wants to make sure that the right incentives are in place to encourage saving into pensions in the longer term. The Government is therefore consulting on whether there is a case for reforming pensions tax relief to strengthen incentives to save, offering savers greater simplicity and transparency, or whether it would be best to keep the current system.

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