AJ Bell calls on all political parties to ‘come clean’ on pensions
Jeremy Hunt confirms commitment to triple lock in Autumn Statement
Second ‘blockbuster’ rise down to triple lock policy
Pre-statement speculation on LTA and tax-free lump sums did not come to pass
The lifetime allowance is set to rise to £1,078,900 from April next year in line with the 0.5% inflation figure.
A slump in inflation caused by economic damage from the coronavirus could pave the way for the abolition of the state pension ‘triple lock’, according to Lane Clark & Peacock (LCP).
The lifetime allowance will rise to £1,073,000 from next April as inflation in the year to September stands at 1.7%.
Tax relief on pension contributions is not an effective way of incentivising saving and the government may wish to consider fundamental reform, the Treasury Committee says.
The Conservative Party has abandoned dropping the triple lock on the state pension in order to secure a confidence and supply deal with the Democratic Unionist Party (DUP).
The hung parliament means planned measures to mitigate scams will be kicked down the road, the industry has told PP.