Nicky Morgan says pension tax breaks could be snatched away because they do not encourage saving

Mail Online | 10/12/2018 | James Burton;Victoria Bischoff for the Daily Mail
n.king (Posted by) Level 3
Click For Photo: https://i.dailymail.co.uk/1s/2018/10/12/01/4974814-0-image-a-6_1539305007960.jpg

A senior Tory has suggested that pension tax breaks could be snatched away because they do not really encourage workers to save.

The controversial intervention by Treasury committee chairman Nicky Morgan, a close ally of Chancellor Philip Hammond, comes just weeks before the Budget.

Savers - Tax - Income - Pension - Pot

Savers currently pay no tax on income they put into a pension pot while working. Instead, they pay tax when they take the money out in retirement.

The tax break is offered to encourage responsible saving by workers. But Mrs Morgan claims this is not effective.

Committee - Savers

Her committee argued that savers should be encouraged to think of it...
(Excerpt) Read more at: Mail Online
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