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“If you pay in £40, that can immediately become £100 or more in your pension as employer contributions and tax relief (except for low earners in net pay schemes) are added.
“So losing £100 of pension contributions from your pension, will only give people an extra £40 or less to spend.”
Altmann said instead of relying on scare stories about inadequate contributions, pension firms should start explaining the positives to customers before it’s too late.
sonia.rach@ft.com
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