Hammond to reduce Pension Tax Relief


Won't sit well with most Tory voters, inparticular the younger ones on defined contribution schemes who are at the mercy of the stockmarket. 

baby boomer fvckers over millenials to pay for healthcare for other baby boomers non shocker.

50% levy on final salary pension schemes would make more sense imho

fvcking raging about this

the Tories are godawful twats - the government that beggared several generations all at once

and they still have the brass neck to bitch about Gordon Brown 




re final salary pensions, they were explicitly part of salary so I don't agree that they should bear the brunt (good troll tho).

the answer is:

1. wealth tax

2. legalise euthanasia

3. raise the minimum wage and lower the personal allowance

4. An increase of 1% per year in income tax after the age of 50

5. Rental earnings seperated from other income streams and taxed at 75%


I'd go for that tho (they are already a separate category in the income tax comp)


I can;t see how taxing pensions any more than they already are isn't just gong to kill the pension industry altogether. 

Are the easily foreseen Unforeseen consequences  of this going to be 1) fund managers making even more people redundant and/or just going out of business 2) people giving up saving for a pension altogether 2) fund managers charging higher fees to make the same returns on diminishing funds under management 3) people being even less incentivised to save for a pension and instead risking it all on property 'investment'.

there will be a shytload of destitute old people what with this and the lump sum withdrawal and the pension age at nearly 70

The shamelessness of the boomers is incredible.

Anything is acceptable other asking them to bear a shred of the cost of the bloated level of public services and benefits they granted to themselves. 


its almost as if baby boomers are happy to kick the can down the road rather than pay their fucking way

This isn't an election pledge that the boomers voted for though, it's something that Hammond has decided to do off his own bat.

There isn't necessarily a boomer mandate for this.


Lol @ anyone who doesn't think that the pensions industry is just one massive big con and basically just a waste of money.  Governments, all of them, don't give a fvck how much money is left in the pot for you, they'll be long dead and out of "power".

invest in rental property whilst it is still legal ffs.

@ Teclis - unless Labour get in power and nationalise all 2nd homes.

No need to be coy and say 'nationalise' when you mean 'steal'.  That's why offshore ownership structures become important.  Prove that I own that company in the Caymans then Corbyn.  Git.


Er, he'll come foe the homes owned by offshore companies first. That will be much easier than starting with individual UK residents

mcconnell said a 2nd home tax, not nationalise

how did the boomers "award themselves" public services and benefits? i agree they now largely turn a tin ear but thats cos theyre old/human nature

i also dont get the "fvcked millennials" re property thing. The vast majority just bought one home and live in it, in a different age

Dunno about that Os, I have no direct relatives who do not possess rental properties.  Much of that is due to my father's efforts and inheritances but it does point to there being something a bit wrong somewhere.

its not all smashed avocado no matter how much I love to pretend it is to wind up the youngsters.

i know someone who owns 60 buy to lets

i agree thats a joke in the current climate, and there are far worse

did they? property wasnt the boom it is now and every penny helped to get a house

my octogenarian dad had to have his 3xsalary mortgage guaranteed by his employer

they downsized at the end of the 90s and the house recently sold for 3 times what he sold it for. Heh

I don;t think owning 60 BTLs is any different to owning sixty pizza restaurants or 60 points in a law firm partnership etc etc

Wang owns 60 bananahammocks.  He offered to show me them once.  No bother.  Apparently if you put them in a fridge first, the design doesn't matter, just a refreshingly cold hammock on a summer's day.

In London.

the vast majority just bought one home and live in it, in a different age


one in 6 people over the age of 60 own more than one home.

old people fucked out generation and should be put down immediately.

Surely 25% is already a massive tax headache for you anyway??