Labour vows to reverse pension LTA abolition

Lifetime allowance on pension saving scrapped in yesterday’s Budget

Jenna Brown
clock • 1 min read
Labour vows to reverse pension LTA abolition

Labour has said it would reinstate the lifetime allowance (LTA) on pension savings after the chancellor yesterday announced it would be scrapped as part of his Budget reforms.

Jeremy Hunt yesterday (15 March) told MPs the £1.07m limit on tax-free pension saving would be removed. It had been predicted he would increase the allowance to £1.8m but instead removed it altoget...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Range of industry people moves, impact of LDI crisis on DB funding, Citrus appoints Russell Investments

Professional Pensions
clock 14 February 2025 • 1 min read
Sole trustee market growth set for 'persistent slowdown'

Sole trustee market growth set for 'persistent slowdown'

Uptick likely to be seen first, followed by a slowdown in the long-term

Holly Roach
clock 14 February 2025 • 2 min read
News Digest: Teachers' pensions costing taxpayers £1bn a month

News Digest: Teachers' pensions costing taxpayers £1bn a month

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 14 February 2025 • 1 min read
Trustpilot