Analysis: The Chancellor's stealth pensions move

Michelle McGagh
Row of old women sitting down
Row of old women sitting down

That tricky Chancellor; just when we all thought pensions tax relief was going to be the big talking point of this year's Budget then he goes and changes his focus completely.

Instead of penalising those who are building up their pensions with a reduction in tax relief on contributions (a smart move you may say considering nobody is saving half as much as they should for their retirement), George Osborne is hitting those already in, or coming up to, retirement.