By IPE Staff2021-02-25T12:02:00+00:00 The Pensions & Lifetime Savings Association (PLSA) has warned that major reforms to the UK’s pension taxation system can see employers and pension funds take on substantial costs. Over the last year, there has been speculation that the government plans to reduce the level of fiscal support for pension saving with changes ranging from removing higher rate income tax relief, reducing the annual or lifetime allowance, introducing a flat rate of tax relief for all savers of 25% or 30%, or overhauling the system so that all pension contributions are taxed at a person’s full marginal income tax rate upfront – known as TEE.