Earn over £150,000? Pour money into your pension now

If there’s one thing that all the political parties agree on, it’s that the well-off get too much in the way of pension relief. So take full advantage before the election, says Merryn Somerset Webb.

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The Toriesplan to reduce relief on pension contributions for people earning more than £150,000

There is it seems no problem in the UK that can't be solved by raiding someone's pension. The major parties have now all published their manifestos and every single one includes some sort of reduction in pension tax relief for higher earners.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.