Advisers: work needed on pensions tax relief

More work is needed on pensions tax relief plans to ensure a level playing field, say advisers.

Tax relief on pensions could be restricted for those with total annual income over £150,000, and some people could effectively lose out compared to others, warn PwC.

'Further consultation on new pension proposals outlined by the government is the only way forward to ensure that in the attempt to achieve a level playing field, consideration of the fundamental ‘pensions deal’ proposition is upheld,' said PwC partner Alex Henderson, reports tax-news.com.

People in that income bracket may not be exempt in times of unemployment, and high earners for short periods of tie, for example sports stars, could be restricted from the relief when not earning so much.