Government Planning

Sandy King
In the News

Government Planning

The Government is gearing up for a major raid on some of Britain’s most generous pension schemes which could see doctors’, teachers’ and senior executives’ retirement funds cut by more than a quarter, the Telegraph understands.

In private talks with industry, ministers have floated plans to move savers with final salary pensions into a separate tax regime. They would then receive less generous tax perks than other savers.
The move, which last night received fierce opposition from public sector unions, would be the most radical attempt by any Government to water down so-called “gold plated” retirement benefits.
Although some senior, private sector executives would be affected, the biggest losers would be well-off public sector workers. Altogether more than two million workers could be hit.

If you have a final pension scheme – Contact Alconbury Trust.

See full article here:

http://www.telegraph.co.uk/finance/personalfinance/pensions/11923158/Government-planning-7bn-assault-on-gold-plated-final-salary-pension-schemes.html