Now:Pensions boost for low-paid workers

09:16 14/09/2017
StockMarketWire.com - Now:Pensions' decision to give low-paid customers the tax relief that is denied to them by current Treasury rules has been welcomed by former pensions minister Ros Altmann.

She said: "Any worker earning under £11,000 last year was entitled to 20% tax relief (which amounts to a 25% Government bonus) on their pension contributions.

"If their pension scheme operates on a Relief at Source basis they will have received the money.

"But if the pension provider chosen by their employer is administered on a Net Pay basis, then these low earners, mostly women, cannot get the 25% top-up.

" So many women and other low earners are forced to pay 25% more for their pension than they should.

"This scandal has been going on for a long time, but the Government has failed to address it.

"It is good to see one company taking the moral high ground.

"Now:Pensions is a NetPay scheme, but it has chosen to give the extra money to its low earning customers from its own pocket. None of the other Net Pay schemes has been willing to ensure low earners do not lose out."

Story provided by StockMarketWire.com

Forex

Commodities

What the Papers Say

telegraph financial times daily mail daily express independent times
20:52 German election 2017 polls and odds...
source: The Telegraph
20:30 People injured in 'suspected gas...
source: The Telegraph
20:02 People injured in 'suspected gas...
source: The Telegraph
20:00 Agony goes on for family of missing RAF...
source: The Telegraph
19:51 Score of...
source: The Telegraph
19:39 Prince Harry meets Melania Trump ahead of...
source: The Telegraph
19:22 US bombers fly close to North Korean...
source: The Telegraph
19:17 Nibiru: How the nonsense Planet X...
source: The Telegraph
19:15 German election 2017 polls and odds...
source: The Telegraph
19:14 Fizzy milk could be about to hit...
source: The Telegraph
[more ...]