| Commentary

31.1 The need for reform

| Commentary

(e) Tax savings through investment in a registered pension scheme

31 Simplification of the pensions tax regime

31.1 The need for reform

Before 6 April 2006, the tax regime relating to pensions was mired in complexity. This was partly because, depending upon the type of pension which had been chosen, one of eight different possible sets of tax rules could apply. In particular there were different rules relating to the following:

  1. 31.1.1

        the maximum amount of tax-free contributions which could be made in a tax year;

  2. 31.1.2

        the earliest date of retirement and the possibility of taking stage payments;

  3. 31.1.3

        the maximum

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