AS 2014: Govt drops pensions tax relief for over 75s plan

The Government has dropped plans to extend tax relief to pension contributions made by people over the age of 75, the Autumn Statement reveals.

As part of the March Budget, the Government said it would be exploring “with interested parties whether those tax rules that prevent individuals aged 75 and over from claiming tax relief on their pension contributions should be amended or abolished.”
There are growing industry calls to reflect changing work patterns and life expectancy by doing away with using age 75 as a significant cut off point in pensions legislation.

But now the Government has confirmed following an “informal consultation” the age limit at which tax relief can be claimed on pension contributions “will remain at age 75”.
Source: Sam Brodbeck 3 December 2014 2:08 pm Money Marketing

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