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Latest News

Pensions industry welcomes more flexible tax regime

by Personnel Today 26 Jan 2004
by Personnel Today 26 Jan 2004

The
pensions industry has given a ‘thumbs-up’ to the Inland Revenue’s proposed
changes to the taxation of company pension schemes.

In
an online survey of more than 100 pension professionals by HR consultancy
Hewitt Bacon & Woodrow, 78 per cent were in favour of the proposals, which
will increase the flexibility and choice of available schemes.

A
similar percentage said they felt the changes would lead to a genuine long term
simplification.

However,
most people in the industry recognise that the changes will make life more
complex in the run up to April 2005 deadline.

Andy
Cox, pension consultant at the firm, said: "We may face a painful
transition to implement the necessary changes – but it will be worth it in the
long term."

By Mike Berry

Personnel Today
Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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