Would a £40,000 ISA allowance make pensions redundant?

Piggy bank
Piggy bank

Pension expert Michael Johnson has published another controversial report on how to solve the UK's retirement crisis, but could pensions survive if we merged them with individual savings accounts (ISAs).

In a paper for the Centre for Policy Studies, Johnson proposed creating one £40,000 allowance for pensions and ISAs each year and offering a flat rate of pensions tax relief of 25% or 30%.

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