Chancellor Philip Hammond's decision to move the main Budget to the Autumn will provide welcome breathing space from the "thick and fast" pension policy changes of recent years, Prudential has said.
Head of technical Les Cameron (pictured) said advisers were still trying to keep up with existing legislative changes, with Prudential's helpline receiving about 12,000 calls a year. Hammond announced on 23 November he would switch the two Budget events around but use the Spring Statement merely to respond to forecasts from the Office of Budget Responsibility. He would not use it to make any changes unless there was a "major fiscal event", he said. Cameron said: "I think this will bring a nice rhythm to industry legislation and give breathing room to policy changes we've had so far...
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