Pensions have attracted a lot of attention in recent months, not least because of the introduction of stakeholder pension plans. Nevertheless, stakeholder has arguably overshadowed the radical shake-up of the tax rules governing contributions into personal pension plans, including stakeholder schemes.
In this article, Legal Week will outline the changes to tax relief on personal pension contributions and urge those who are able to make pension contributions to identify whether they have any unused pension relief as at 5 April, 2001, and, if they have, to use it. This tax break is potentially worth thousands of pounds to some people and will be lost if action is not taken quickly.
