The way this portrays tax relief as increasing your returns is quite misleading. Tax relief only improves your retirement if the marginal rate of tax on your contributions is higher than the marginal rate of tax while in drawdown.
> Even when there is tax relief to save for a pension, this doesn’t mean that there aren’t taxes on pension income after retirement
and the footnote to it is:
> often there are taxes on pension income - so that it might be better to say that tax is deferred rather than relieved whenever we save↩
I'll consider bumping the footnote since it's important.
I might try to capture the more complete picture including post-retirement separately - a problem is that there are so many different configurations of this (e.g. in Ireland there are tax-free lump sums permitted at retirement, then there are a few specific options about the rest - and I'm probably still simplifying). But when I get comfortable about something relevant to describe, I might.
