Chancellor George Osborne has dropped plans to end or alter tax relief on pension contributions. A proposed scheme would have scrapped upfront relief, worth an estimated £21bn to savers, but made pension pot withdrawals tax free.
An alternative option was to set a flat rate of tax relief, which may have been unpopular with higher earners. Campaigners said he had missed a "huge opportunity" to tackle pension inequality and help the lower paid.
George Osborne, will deliver the nextBudget on Wednesday 16th March 2016.