NAPF remain "deeply concerned" despite anti-forestalling rule change

Date: 6th July 2009

The NAPF has welcomed recent Treasury plans to change pensions tax relief anti-forestalling rules, but insisted the government should listen to the Association further and change tax relief for pensions.

Commenting on the Treasury's plans to change pensions tax relief anti-forestalling rules, Nigel Peaple, NAPF Director of Policy said: "We are pleased that the Government has addressed some of our concerns regarding the 'anti-forestalling' regime.

"Adopting a more flexible approach to existing contribution agreements and to 'irregular' contributions will make a real difference to some companies and individuals."

However, he went on to say that the Association remained concerned over the government's failure to adopt its pension tax relief recommendations.

He said: "The NAPF remains deeply concerned about the government's plans to change tax relief for pensions. We need Ministers to listen on this too."

The NAPF submitted its recommendations concerning pension tax relief to the House of Lords Economic Affairs Sub-Committee last month. The Lords accepted the NAPF's proposals.