Strengthening the incentive to save: consultation on pensions tax relief

The government wants to make sure that the right incentives are in place to encourage saving into pensions.

The government is therefore consulting on whether there is a case for reforming pensions tax relief to strengthen incentives to save and offer savers greater simplicity and transparency, or whether it would be best to keep with the current system.

Once the consultation closes on 30 September 2015 the government will consider all responses and publish a ‘summary of responses’. This will set out how the government intends to proceed.

The government would particularly, but not exclusively, be interested to hear from:

• individuals
• consumer groups
• employers
• providers of pension products
• the wider pensions industry