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Tax relief and partnership pensions

  • Phil Agulnik
  • Julian Le Grand
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    Government support of private (occupational and personal) pensions through tax relief is an important element in the UK’s retirement income system. However, the current tax relief system is regressive, lacks transparency and is difficult to control. This paper argues that it should be replaced by a cost-neutral matching-grant or tax-credit scheme. Such a scheme would embody the ‘partnership’ idea implicit in much government policy in this area, but would be much more progressive, more open and more accountable than existing arrangements. The argument is illustrated through a comparison of the cost and distributional impact of the current system with those of an alternative tax-credit scheme.

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    File URL: http://www.ifs.org.uk/fs/articles/agulnik_nov98.pdf
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    Article provided by Institute for Fiscal Studies in its journal Fiscal Studies.

    Volume (Year): 19 (1998)
    Issue (Month): 4 (November)
    Pages: 403-428

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    Handle: RePEc:ifs:fistud:v:19:y:1998:i:4:p:403-428
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    1. David M. Knox, 1990. "The taxation support of occupational pensions: a long-term view," Fiscal Studies, Institute for Fiscal Studies, vol. 11(4), pages 29-43, November.
    2. Dilnot, Andrew & Disney, Richard & Johnson, Paul & Whitehouse, Edward, 1994. "Pensions policy in the UK: An economic analysis," MPRA Paper 10478, University Library of Munich, Germany.
    3. Bovenberg, A.L. & Petersen, C., 1992. "Public debt and pension policy," Other publications TiSEM a1c7c616-a820-457e-937b-8, Tilburg University, School of Economics and Management.
    4. Lans Bovenberg & Carel Petersen, 1992. "Public debt and pension policy," Fiscal Studies, Institute for Fiscal Studies, vol. 13(3), pages 1-14, August.
    5. repec:ner:tilbur:urn:nbn:nl:ui:12-152975 is not listed on IDEAS
    6. Giuseppe Ruggieri & Maxime Fougère, 1997. "The effect of tax-based savings incentives on government revenue," Fiscal Studies, Institute for Fiscal Studies, vol. 18(2), pages 143-159, May.
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