Government weighs up changes to pension law

The government is considering changing the way it calculates the value of a pension pot for tax purposes.

21st September, 2013

The government is considering changing the way it calculates the value of a pension pot for tax purposes, in a move that could benefit workers on higher pay who are in defined contribution schemes, according to several pension industry sources.

The new measure, which could be introduced in the budget next month, would increase the factor for calculating the capital value of a pension, allowing savers to accumulate more money to fund their annual retirement...

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