Current system remains highly regressive and benefits top earners disproportionately,says Resolution Foundation thinktankGeorge Osborne’s decision to back down from making radical changes to pensions tax relief was a “missed opportunity” to boost the retirement pot of the average British worker by more than 14%, according to an analysis by the Resolution Foundation thinktank.
The chancellor’s allies took the unusual step final week of announcing, and less than a fortnight before the budget,that he had abandoned plans for a shakeup of tax relief on pensions contributions that could enjoy seen all employees paying a flat rate.
Continue reading...
Source: theguardian.com