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Started by: gaffer (7963)
TTS
This is Gordon Brown’s move that eventually killed off company defined benefit pension schemes.
Since the origin of pension funds it was a principle that money went into schemes tax free and was taxed when money went out.
Dividends covered over half of the money into pension schemes. Gordon Brown’s scrapping of dividend tax relief meant that defined benefit pensions were no longer affordable to companies.
Pensions
Replied: 27th Jul 2022 at 17:30