Pensions 1st £250.000 Free
To make sure people save for their pensions the 1st £250,000 should be FREE of tax to buy your Annuity but with no tax relief on your contributions.
This will save the government money by not paying tax relief and the money they save can then go on towards increasing pensions for people who need it now.
At today's annuity rate this will give about £15, 000 a year plus the government new £140.00 pw (£7,000pa) total £22,000pa.
To stop people just putting in £250.000 in one go when they retire 15 years min contributions.
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