Daily Mail says lifetime and annual allowances among those that will increase
Steven Cameron calls for LTA, AA and MPAA reform as chancellor expected to rethink rules
2021 measure to freeze LTA set to raise twice as much for HMT as originally thought
But lifetime allowance charges increase by 11% on previous year
Cyprian Njamma says the government’s changes to allowances could make it hard for savers to overcome complexities, thereby disincentivising saving for retirement.
The pensions industry is broadly split on whether the Spring Budget hit the right notes in regards to its approach to pensions, according to a poll by PP.
The industry has been speculating on what chancellor Rishi Sunak will announce in the Spring Budget, with expectations that freezing the lifetime allowance, the introduction of a flat rate of tax relief, and a review of auto-enrolment (AE) will be among...
The lifetime allowance is set to rise to £1,078,900 from April next year in line with the 0.5% inflation figure.
Nearly two-thirds of this week’s 133 Pensions Buzz respondents believe the introduction of simpler and standardised annual benefit statements will help more members engage with their pension.