Alan Livsey (the FT’s pension correspondent) makes a rare excursion into pensions. It is to make a moan about how Labour have frightened the rich to withdraw their tax-free cash before each budget. This continues as people realise this is the last budget before pensions suffer a “death tax” – at least if they’re hoarded to pay Inheritance Tax.
I’m sorry if I sound a moaner, but there really is a lot of good going on in pensions right now, people have their pots at all time highs, annuity rates are great to buy and CDC is about to become available to employers who want to pay deferred pay and not pots.
So read the following from today’s FT and remember there is another side to what has happened since this Labour Government took power, Most of it is good news!
Henry
It is not the right side of the bell curve that you need to concern yourselff with it is the principal of retrospective legislation imposing up to 83% rates of. Tax and the damage to trust in pensions generally.
As your blog identified recently care provision should see off most intergenerational transfer capacity.
The rates of tax will alter behaviour and bring very little tax into the treasury