Industry warns annual allowance cut will punish middle-class 'catch up' savers

clock

A cut to the annual allowance in the autumn statement would hit middle-class savers who increase contributions to their pension pot later in life, the industry warns.

A report in the Financial Times this morning revealed Chancellor George Osborne is considering raiding higher-rate tax relief for the rich by lowering the threshold of the tax-free annual allowance...

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

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

Industry unites to call for timing alignment on retirement CDC

Industry unites to call for timing alignment on retirement CDC

ACA, APPT and SPP among those pressing for alignment with launch of guided retirement

Jonathan Stapleton
clock 03 December 2025 • 2 min read
Budget 25: HMRC announces modifications to incoming IHT regime

Budget 25: HMRC announces modifications to incoming IHT regime

Industry welcomes change but warns blocking powers for executors could cause delays

Jonathan Stapleton
clock 27 November 2025 • 2 min read
Budget 25: Government to allow DB schemes to pay surplus funds directly to members

Budget 25: Government to allow DB schemes to pay surplus funds directly to members

Measure will make it easier for trustees and employers to agree surplus extraction

Jonathan Stapleton
clock 27 November 2025 • 3 min read
Trustpilot