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Temporary changes to pensions tax in the context of abatement for returning workers
22 April 2020
At a Glance
Issue Summary
The statement addresses temporary changes to tax rules for public sector workers returning to work during the Covid-19 pandemic.
Action Requested
The government intends to temporarily suspend tax rules that would otherwise apply significant tax charges to pension income received by recently retired individuals aged between 50 and 55, effective from March 1 to June 1, 2020. This measure will help ensure these individuals' pension income remains protected if they return to work.
Key Facts
- The temporary change applies to payments made in the period from 1 March to 1 June 2020.
- The measure is for public sector workers aged between 50 and 55 who are recently retired and wish to return to work due to Covid-19.
- HMRC will set out operational guidance in due course.
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