Posts Tagged ‘pension’

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Those looking to move a UK pension offshore face a 25 per cent tax charge under a dramatic crackdown on pension transfers.

Greece needs to reduce the proportion of its budget spent on “unaffordably high” pensions which are paid for by high tax rates to stimulate economic growth, the International Monetary Fund said on Tuesday.

A member of an influential parliamentary committee has called for a radical shake-up of pensions tax relief so incentives are more heavily targeted at younger low earners.

More than 650,000 savers are preparing to take advantage of George Osborne’s flagship pension reforms over the next five years, providing the Government with a £4?billion tax windfall, the first official analysis of the scheme has revealed.

Labour is to consider a plan to reduce tax relief on pensions by £2bn a year by ending people’s automatic right to take a quarter of their pension pot tax-free.

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