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SimplyBiz Group plc

Should we return to pension simplification?

At a basic level, a pension is a simple idea – you save money during your working life to fund your retirement.

The problem is that pensions are governed by layers of legislation built up to address different issues at different times, which creates complexity. So in 2006 the Labour government of the day simplified the tax system. Eight different pension tax regimes were streamlined into one, and annual and lifetime allowances were established to ensure we all got our fair share of tax relief.

SimplyBiz Group PLC (LON:SBIZ) provides compliance support and business consultancy services to financial services, legal and workplace benefits professionals in the United Kingdom. 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.