Sentences with phrase «reduce pension relief»

Not exact matches

The top priorities for 2012 now include: Continue fiscal discipline by «working to reduce spending by $ 2 billion will help balance the budget and increase New York's competitive edge,» enacting pension reform, passing mandate relief and regulatory reform, and legalizing non-Indian casino gambling.

A Cable chancellorship with Labour backing could be bold in redistributing the tax burden - ending higher - rate tax relief on pensions, closing tax loopholes at the top and reducing the share paid by lower earners.

That this House declines to give a Second Reading to the Welfare Benefits Up - rating Bill because it fails to address the reasons why the cost of benefits is exceeding the Government's plans; notes that the Resolution Foundation has calculated that 68 per cent of households affected by these measures are in work and that figures from the Institute for Fiscal Studies show that all the measures announced in the Autumn Statement, including those in the Bill, will mean a single - earner family with children on average will be # 534 worse off by 2015; further notes that the Bill does not include anything to remedy the deficiencies in the Government's work programme or the slipped timetable for universal credit; believes that a comprehensive plan to reduce the benefits bill must include measures to create economic growth and help the 129,400 adults over the age of 25 out of work for 24 months or more, but that the Bill does not do so; further believes that the Bill should introduce a compulsory jobs guarantee, which would give long - term unemployed adults a job they would have to take up or lose benefits, funded by limiting tax relief on pension contributions for people earning over # 150,000 to 20 per cent; and further believes that the proposals in the Bill are unfair when the additional rate of income tax is being reduced, which will result in those earning over a million pounds per year receiving an average tax cut of over # 100,000 a year.

The NJPHBSC proposed a range of changes to assist in the relief of the pension crisis and budget problems: replacing the defined - benefit plan to a cash - balance pension plan, reducing the cost of health - benefit plans, and redirecting some resulting savings to paying off the debt.

Either you pay from your own pocket and then you get income tax relief on the payment, i.e. your gross salary is reduced by the gross pension contribution and income tax is recalculated with the excess either refunded to you or put in your pension (the details are a bit more complicated depending on your marginal tax rate, but the end result is the same).

In 2011 — 12, this relief has been extended, with the minimum payment for account - based pensions reduced by 25 %.