Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will make an assessment of the viability of enabling men to contribute to the pension of their spouse on the same basis as the contribution that they make to their own and with the same tax advantages.
It is already possible for individuals without earnings to save into a pension and receive relief. Individuals can make contributions of up to £2,880 each year to a personal pension, self-invested personal pension, or stakeholder pension and receive basic rate income tax relief at, currently, 20% or £720 on their contribution. These contributions can be funded by a working partner. Since the UK’s income tax system is based on the principle of independent taxation, it would not be possible to allow a working partner to contribute to a pension on the same basis as their own.