More tax on pensions


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J

john boyle

Robin Graham said:
The thing is not to be a with-profits fund. AFAIK this tax only applied to
these. With-profits funds are probably a bad idea even without this new
problem (a contentious statement).
Quite!

The Govt (via the FSA) panics the market and then tells the W/P funds to
switch a wodge of their funds into Fixed Interest thereby preventing the
funds from participating in equity gains.

Investors panic so the funds apply an MVA.

Then the Govt increase tax on the funds.

Hmm am I cynical that this just happens to coincide with the Govts
increased need for borrowing?
 

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