LITRG disappointed at government inaction on pension tax anomaly affecting 1.5 million low-income workers
The Low Incomes Tax Reform Group (LITRG) is disappointed at a lack of progress towards rectifying an inequality which sees an estimated 1.5 million or more low-income workers paying a 25 per cent penalty for their pension savings. This issue can cost those affected (three-quarters of whom are women) around £65 a year due to the way their employers’ pensions schemes operate.
The Government today published its responses to a number of tax consultations but not to its call for evidence on ‘pensions tax administration’, which covers this issue. This is despite the call for evidence being concluded longer ago than a number of the consultations on which it has responded.
Read more at politics.co.uk.