Pre-Budget pension tax speculation could be 'damaging' to outcomes

Conjecture driving savers to withdraw ‘excessive funds’

Jenna Brown
clock • 3 min read
Pre-Budget pension tax speculation could be 'damaging' to outcomes

The chancellor’s move to shut down speculation on changes to higher-rate pension tax relief ahead of the upcoming Budget has been welcomed by experts who said conjecture was damaging to outcomes.

According to a report in The Times, senior Treasury officials are understood to have told chancellor Rachel Reeves that a reduction of the 40% level of tax relief on higher earners would disproport...

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