Simplifying the Taxation of Pensions: Increasing Choice and Flexibility for All
- Topics:
- Tax Incentives
- Tags:
- Benefits,
- Crown,
- Finance,
- Financial Planning,
- Free Trade,
- Human Resources,
- Payroll Solutions,
- Pension,
- Taxes
- Source:
- Crown
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Overview: This paper proposes radical simplification of pensions taxation. The complexity of the tax rules for pensions has come about because each successive set of changes has overlaid the previous rules, which have been allowed to continue for people who stay in the same pension scheme. These rules restrict choice and flexibility for individuals, employers and pension providers alike. As a result, pensions tax relief has become so complicated that people are put off saving for retirement and employers have become reluctant to sponsor workplace pensions. So they restrict what people actually save for their retirement. And that can mean they are disappointed with the income they achieve in retirement.
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Format: PDF | Size: 595KB | Date: Dec 2002 | Pages: 64
