Labour warned against private pension raid to fix black hole by Aviva | Personal Finance | Finance
The pensions and insurance giant Aviva has warned the government against raiding private pensions to fill a £22 billion black hole in the nation’s finances.
It is rumoured that the Chancellor will reduce tax relief available to higher earners on their pension contributions in her Budget in October.
Currently, a basic rate taxpayer gets 20per cent tax relief on pension contributions, which means every £100 they put into a scheme costs them £80.
However, someone earning between £50,271 to…
