Submitted on Monday 25th January 2016
Published on Monday 25th January 2016
Current status: Closed
Closed: Monday 25th July 2016
Signatures: 98
Do not reduce or remove tax relief from pension contirbutions
Mr Osborne is looking at reducing the tax relief on pension contributions. This will seriously effect people making pension contributions into PRIVATE pensions. Therefore meaning that people will have a much reduced pension when they retire.
Automatic enrolment was to ensure that people were contributing into a private pension to provide a decent pension when they retire. It was also quoting the fact the government would also contribute the tax relief to your pension. Even if the reduction Mr Osborne only effects the Higher tax payers as the higher tax band has not been increased in line with wages this option will affect more & more people. Any one earning over £42385 pays 40% tax.
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