Savers hit by tax hikes

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 Scrapping tax breaks could hit 4m savers

The Mail claims that George Osborne’s plan to scrap tax breaks on pensions will leave a black hole in the savings of up to 4m workers. It calculates that if the chancellor scraps the perks in next month’s Budget, a 35-year old earning £45,000 would have to pay in an extra £4,140 a year into their pension to build up the same retirement fund at the same rate as today.

Source:   Daily Mail (17/02/2016)

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