CIOT/IFS Debate: How should the tax system treat pension saving?

How should the tax system treat pension saving? Is the answer different in a world of ‘pension freedoms’? Should income tax relief on pension contributions be restricted to the basic rate – or should income tax treat pensions like ISAs? Should the annual and lifetime limits on pension saving be reduced further, or increased? How should National Insurance and the new Health and Social Care Levy treat pension saving? Could tax reliefs for pensions be better targeted at those most at risk of under-saving?

The expert panel who discussed these issues included:

• Glyn Bradley - Principal at Mercer and Member of the CIOT Employment Taxes Committee

• Charlotte Clark - Director of Regulation, Association of British Insurers, and formerly head of pensions at HM Treasury and the Department for Work and Pensions

• Carl Emmerson - Deputy Director, Institute for Fiscal Studies

• Kelly Sizer - Senior Technical Manager, Low Incomes Tax Reform Group

• Chair: Mubin Haq – CEO, abrdn Financial Fairness Trust

Click here to watch the event back.