From April 2004, the proposed pension reform will hit certain top earners with a tax charge of 60% to the extent the value of their pension exceeds a given figure. Maurice Parry-Wingfield, Tax Director, Deloitte & Touche, argues that these and other limitations, together with inadequate 'grandfathering' of existing schemes, operate unfairly for such people. Time is beginning to run out for responses to the consultative document, due in a month's time
