In a paper published today by the Social Market Foundation – a cross-party think tank – Michael’s tax-related proposals form part of a broader plan for a simpler, fairer and more sustainable pensions landscape. The paper addresses all three pillars of State Pension, workplace provision and personal provision, and considers both pre-retirement saving and the taking of post-retirement income. In addition to replacing tax relief and NICs rebates with bonuses, Michael proposes the following:
> A larger, but later, State Pension (“Senior Citizen’s Pension”), supplemented by Universal Credit for low earners, extending beyond State Pension age.
The introduction of […]
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