Webb accuses Chancellor of 'daylight robbery' over pension tax reforms

Report calls for stability and simplicity

Former pensions minister Steve Webb has accused the Chancellor of orchestrating a 'daylight robbery' with his proposed options to reform pensions tax relief, which would "steal billions of pounds in tax revenues from the next generationæ.

In a report out today, Webb (pictured), now policy director at Royal London, warned against replacing the current system with either a pension ISA or a low flat-rate of tax relief for all. He also warned...