Retirement: Personal Savings
Commons · Question 5922 · Tabled 2 Jun 2026 · Treasury · Official record
Answered 10 Jun 2026
Question
Asked by Jim Shannon
To ask the Chancellor of the Exchequer, what steps she is taking to encourage greater levels of household savings for retirement.
Answer
Answered by Torsten Bell, 10 Jun 2026
The Government wishes to encourage pension saving, to help ensure that people have an incomethroughout retirement. This is why, for the majority of savers, pension contributions are tax-free. This makes pensions tax relief one of the most expensive relief...