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

Report calls for stability and simplicity

clock

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...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Pensions

Smouha manages the GAM Star Credit Opportunities fund

GAM's Anthony Smouha named FE Alpha Manager of the Year

One of two wins for Smouha

clock 19 May 2022 • 1 min read
Five active ratings and three responsible ratings were issued to funds by RSMR

RSMR issues eight new fund ratings

Five active and three responsible

Elliot Gulliver-Needham
clock 04 May 2022 • 2 min read
The firm will return AUM invested across its three local currency government bond funds

1167 Capital returns assets to investors amid Russia-Ukraine crisis

$374m assets returned

Lauren Mason
clock 21 April 2022 • 3 min read
Trustpilot