What to expect for pensions in this year's Spring Budget

LTA, AA and MPAA reforms, and investment in UK growth assets

Holly Roach
clock • 6 min read
Chancellor Jeremy Hunt will deliver the Spring Budget tomorrow (15 March)
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Chancellor Jeremy Hunt will deliver the Spring Budget tomorrow (15 March)

There have been widespread media predictions that chancellor Jeremy Hunt will announce increases to the lifetime allowance (LTA) and the annual allowance (AA) in tomorrow’s (15 March) Spring Budget, in a bid to encourage older workers to stay in or return to work.

It has been widely reported the LTA will rise from the current £1.073m to as much as £1.8m, and reports suggest the AA could rise from £40,000 to £60,000. Lane Clark & Peacock partner and former...

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