What’s that sound of breaking glass?

What’s that sound of breaking glass?

The Chancellor, has characterised himself as the pensions champion with his “pensions revolution”, but the truth is that the Tories are just as bad as everyone else in targeting saving for retirement as a source of revenue to fund the ever onwards and upwards march of government spending.

Both the “lifetime limit” and the annual limit on what you can save have been cut twice under the present Government. All three main parties now plan to go a stage further. The lifetime limit is to be cut again to just £1m next year.

Yet the reality is that progressive removal of tax breaks is for the better off just another form of disguised tax increase. The new lifetime limit means that it is now virtually impossible for a private sector worker to buy himself the same pension in retirement as can be “earned”in the public sector.

It doesn’t have to be this way. Call for an initial consultation.

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