Next Generation Technical Support

News

UK 25% pension tax free lump sum in danger, say Royal London

UK 25% pension tax free lump sum in danger, say Royal London

If UK chancellor George Osborne opts to introduce a new Isa-style pension system in next month's budget it spells the end of the 25% tax free lump sum allowance, says Steve Webb, director of policy for Royal London. Webb, who worked with the chancellor on pension strategy in the previous coalition government, believes Osborne favours the "pension Isa" plan over an alternative flat rate tax system, where all savers get the same level of tax relief on their pension contributions regardless of their income. Please link to International Adviser to read the full story by Richard Hubbard.

Become a member for as little as £25/month