Georgina Jones discusses the changes in the pensions tax system the industry would like to see
In light of the general election, there are a number of issues the pensions industry would like to see addressed. Georgina Jones, partner, talks to Professional Pensions regarding the changes in the pensions tax system that should be considered.
“Like most of the industry we would encourage all parties to take this opportunity to simplify the pensions tax system. Since “simplification” in 2006 we have seen layer upon layer of complexity, which not only causes confusion but undermines confidence in pensions savings. The goalposts constantly change. We need a simple structure and a guarantee that it will be left alone, at least for a generation. A continued commitment to improving transparency and disclosure of costs and charges would also be welcomed. Trustees and individuals need to be able to access and benchmark providers to drive improved competition and obtain value for money”.
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