Taxation Of Annuities

EDM number 859 in 2008-09, proposed by Eddie McGrady on 24/02/2009.
Categorised under the topics of Pensions and Taxation.

That this House, particularly in view of the current deterioration of pension funds, is deeply concerned by the prospect that those who do not take a full annuity before the age of 75 years would pay tax at 82 per cent. of residual funds based on tax charges of an unauthorised payments charge of 40 per cent., an unauthorised payments surcharge of 15 per cent., a scheme sanction charge of 15 per cent., and a possible 40 per cent. inheritance tax charge on the remaining 30 per cent. of the fund, leaving a balance of just 18 per cent. of that part of the original fund; and calls on the Government immediately to consider legislation to alleviate this exorbitant tax situation.

This motion has been signed by a total of 27 MPs.

MP	Date	Constituency	Party	Type
Eddie McGrady	24/02/2009	South Down	Social Democratic and Labour Party	Proposed
Mark Durkan	24/02/2009	Foyle	Social Democratic and Labour Party	Seconded
Peter Bottomley	24/02/2009	Worthing West	Conservative	Seconded
Mike Hancock	25/02/2009	Portsmouth South	Liberal Democrat	Seconded
Nicholas Winterton	25/02/2009	Macclesfield	Conservative	Seconded
Rudi Vis	25/02/2009	Finchley & Golders Green	Labour	Seconded
Jeremy Corbyn	25/02/2009	Islington North	Labour	Signed
David Drew	26/02/2009	Stroud	Labour	Signed
Nigel Dodds	04/03/2009	Belfast North	DUP	Signed
Bill Etherington	04/03/2009	Sunderland North	Labour	Signed
Dai Davies	10/03/2009	Blaenau Gwent	Independent	Signed
Frank Field	10/03/2009	Birkenhead	Labour	Signed
Robert Marshall-Andrews	10/03/2009	Medway	Labour	Signed
Brian Jenkins	10/03/2009	Tamworth	Labour	Signed
Eric Illsley	10/03/2009	Barnsley Central	Labour	Signed
Katy Clark	11/03/2009	Ayrshire North & Arran	Labour	Signed
Marsha Singh	12/03/2009	Bradford West	Labour	Signed
Jim Dowd	12/03/2009	Lewisham West	Labour	Signed
Phil Willis	16/03/2009	Harrogate & Knaresborough	Liberal Democrat	Signed
Desmond Turner	16/03/2009	Brighton, Kemptown	Labour	Signed
Iris Robinson	16/03/2009	Strangford	DUP	Signed
Jeffrey M Donaldson	19/03/2009	Lagan Valley	DUP	Signed
William McCrea	23/03/2009	South Antrim	DUP	Signed
Mike Wood	24/03/2009	Batley & Spen	Labour	Signed
Nick Harvey	26/03/2009	North Devon	Liberal Democrat	Signed
Paul Rowen	20/04/2009	Rochdale	Liberal Democrat	Signed
John Austin	01/06/2009	Erith & Thamesmead	Labour	Signed

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