Nearly half do not know pension contributions tax free

Four in 10 taxpayers do not know that pension contributions automatically receive 25% tax relief despite an annual bill of over £42bn to pay for the tax break

 

A research report into pension taxation highlights the public’s lack of awareness about the extent of tax relief on pensions. The publication of the report follows a freedom of information request which called on the government to release the findings, which have been delayed since 2016.

The government statement said that 'the report was originally intended to be published in 2016, however due to extended pre-election periods following the EU referendum, it was not published'.

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