Pension WARNING: Boris urged against changes to YOUR savings – ‘unintended consequences’

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BORIS JOHNSON has been urged to scrap any plans to slash the rate of pensions tax relief or risk 'unintended consequences', the chief of the TaxPayers' Alliance has warned.

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The Treasury is understood to be considering reducing the rate of tax relief on pension contributions for higher earners, from 40 percent to 20 percent. It is estimated the move could raise £10 billion in the first post-Brexit budget to be announced in the Spring. In the UK almost four million employees pay the higher rate of income tax and benefit from the 40 percent pension tax relief.

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