Publication type
Research Paper
Series Number
R240
Series
IFS Report Series
Authors
Publication date
February 15, 2023
Summary:
How should pensions be taxed? We propose income tax and National Insurance reforms that would more evenly support pension saving.
Pensions are the biggest component of household wealth and are treated favourably by the tax system. That means getting pensions tax design right matters. It matters for people’s well-being in retirement, especially if it can support the pension saving of those at risk of undersaving for their retirement. It also matters for taxpayers. Overly generous tax subsidies will be expensive, while insufficient generosity could lead to undersaving placing upwards pressure on state support for pensioners in the future.
Subjects
Link
https://ifs.org.uk/publications/blueprint-better-tax-treatment-pensions
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