The Great Debate UK
Osborne’s budget alleviates worries over pensions tax relief
-Joanne Segars is chief executive at the National Association of Pension Funds. The opinions expressed are her own.-
Osborne delivered a tough and important budget, but one issue he didn’t really square up to was the UK’s woeful record on saving for retirement.
More discussion and policies will come soon – with the expected review of landmark pension reforms due for 2012, and with a new independent commission looking into the thorny issue of public sector pensions.
But one danger this Budget did nip in the bud was a move in the Finance Act 2010, pushed through by the previous government, which would have restricted pensions tax relief for those earning over 150,000 pounds.
