TaxPayers’ Alliance responds to plans to raise pensions allowances

Responding to reports that the chancellor is preparing to raise allowances for pension savings, Phil Basey, head of research of the TaxPayers' Alliance, said:

"Raising pension allowances would be a step in the right direction. 

"These taxes on pension pots punish those who want to work for longer and drive people in their prime into an early retirement. 

"Allowances should be raised further, so there's no reason for experienced employees to be taken out of the workforce by these pension limits."