Overview
IFS researchers set out proposals to even out tax support for pension saving – reducing subsidies where they are overly generous and increasing them where saving incentives are weaker. The reforms would boost the retirement incomes of the bottom 80% of earners and provide greater encouragement for them to save more in a pension, while getting rid of overly generous subsidies that benefit those on high incomes could enable the removal of the complexities created by tapering away annual savings allowances.