Philip Hammond, the new chancellor of the exchequer, will present his first Autumn Statement on Wednesday 23rd November 2016 and speculation will mount in the coming weeks about its content.

In the build up to this, pension experts continue to publicly submit their pension tax relief ideas to the phantom government suggestion box.

Legal and General (L&G) chief executive Nigel Wilson has urged the government to introduce a flat-rate of pension tax relief to address a growing gap between young and old people.

Tom McPhail, head of retirement policy at Hargreaves Lansdown recommended a system which would award relief on pension contributions based on age.

It is critical that which ever method of pension tax relief the government chooses to adopt to encourage younger contributors, they must focus on publicity.

Tax relief is one of the great benefits of a pension, yet consumer research tell us that this remains poorly understood across all age brackets (especially individuals getting on the hamster wheel for the first time).

As an industry, we need to do a better job of raising awareness about the benefits of pension tax relief.

To talk to an independent financial adviser about your pension, the tax-relief on contributions available and more, please email me at [email protected].