Position Paper on the Taxation of Private Pension Provision

In November 2011, the Society published a Position Paper on the Taxation of Private Pension Provision.  This paper was intended as a contribution to the discussion on the proposal which had been made by Government at the time (as part of the National Recovery Plan) to reduce the rate of tax relief granted in respect of contributions to private pensions from the marginal rate to the standard rate of income tax.  The Society has recently reviewed this paper, following comments received from a member, and has decided that it would be appropriate to issue a supplementary note to clarify the basis on which the calculations in the paper were prepared.  This supplementary note has been appended to the paper on the Society’s website so that anyone who accesses the paper can note the clarifications provided.