Pensions: Tax Allowances
The question
To ask the Chancellor of the Exchequer, whether her Department plans to maintain tax relief on pension contributions.
Answered by Torsten Bell
Pensions tax relief is one of the most expensive reliefs in the personal tax system, costing £78.2 billion in 2023/24.
The Government remains committed to encouraging pension saving, to help ensure that people have an income, or funds on which they can draw, throughout retirement.
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