2. Chris Noon: "Higher rate taxpayers will not save as much in their pensions because it is not as efficient for them..." Cock. They'll just have to save in something else. Who's stopping them? But he does go on to say that ' these people are paying enough tax', as of course is everyone else.
3. “At present basic-rate taxpayers receive a £20 top-up from the Government for every £80 they pay into a pension.” No. It’s not atop up from the government. The government has no money. It is a rebate of the savers own tax payments.
4. It says that every taxpayer – basic, higher and additional rate are not saving enough for an adequate pension. So the tax regime already fails to incentivise saving. Or the authors are failing to include other forms of ‘saving’, unearned land price rises included.
Hymans Robertson have a vested interest in all this alarmism – they make