Pensions, savings and investments

Changes to pensions tax relief for higher earners could be counterproductive, it has been claimed.

Savers might have to be willing to tie their money into long term deals in order to enjoy reasonable returns on their investments.

Reforms to the pension system, planned for 2012, run the risk of adversely affecting the flexibility of the UK’s labour market, it has been argued.

Taxes may have to rise by significant amounts if the UK’s public finances are to return to balance in the timescale outlined by the Chancellor, a think tank has claimed.

People who earn more than £150,000 will get 50 per cent tax relief on the contributions they make to their pensions for one year.

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