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Exploring Pension Tax Policies
This chapter delves into the complexities of pension schemes, focusing on the implications of tax-free cash lump sums and the current subsidy system for higher-rate taxpayers. Experts discuss potential changes to pension tax benefits and concerns regarding fairness in the system, especially for lower-income individuals. The chapter also introduces upcoming regulations related to pension funds and fraud protection, emphasizing a need for policy revisions to create a fairer financial landscape.