» Thursday, October 14, 2010
Pensions
Put that the changes to pensions meant the middle classes were being squeezed again, the PMS said the last Government had put in place some proposals to restrict the amount of pension relief for people on higher incomes. Those changes had not yet come in but were expected to raise around four billion pounds. There had been a lot of criticism for those proposals from the industry who thought they were complex and unworkable. At the time of the budget the Chancellor said we would look again at this and consult with the industry. We have done that. The PMS said that if you looked at the industry and the business groups’ comments that morning they were all welcoming the proposal.
Asked how many people this would affect, the PMS said the annual allowance of fifty thousand would affect around 100 thousand pension savers and the vast majority of those would have incomes in excess of 100 thousand pounds.
Briefing took place at 10:00 | Search for related news
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