The taxing of pension contributions is scheduled to begin in April 2011, with projections suggesting the measure could raise an extra £3.6bn a year from about 300,000 top earners.
In addition,the government plan to introduce a package of measures including a new 50% tax rate and the phasing out of universal personal income tax allowance for those earning over £100,000, in April this year.
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For further coverage please see the statement from the National Association of Pension Funds on this subject.
USS Update for high earners
USS has produced an information pack for its members detailing the proposed changes to the tax system affecting high earners from April 2010 and April 2011.
Unfortunately, as this is a personal tax issue, USS is unable to provide advice or further comment to its members. If you think you will be affected you may wish to seek advice and you can view a list of advisers here.