Lifetime ISA: Are seismic changes ahead for UK long-term savings?

'Pension ISA by the back door'

clock • 4 min read

Andrew Tully takes a look at the pension changes outlined in George Osborne's eighth Budget speech. Has the Chancellor introduced a pension ISA by the back door?

Following a period of consultation, this Budget was predicted to change the basis of pension saving with changes to tax relief, or possibly go even further with the introduction of a pension ISA. However, you could almost hear an audible sigh of relief from across the industry when, shortly before Osborne delivered his speech, the media were briefed that, after all, there would be no changes to pension tax relief. This appears to be supported by the Treasury response to the consultation which concluded that while there was no clear consensus, the general view is the current system giv...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Overseas pension transfers: How recent rule changes impact recent and future advice

Overseas pension transfers: How recent rule changes impact recent and future advice

Daniel Bosiacki looks at recent rule changes that affect overseas pension transfer advice...

Daniel Bosiacki
clock 06 January 2025 • 3 min read
Exploring pensions outsourcing as a route to unlocking efficiencies

Exploring pensions outsourcing as a route to unlocking efficiencies

'Unlocks the potential for iterative improvement'

Julia Fintz
clock 24 December 2024 • 7 min read
Government confirms no compensation for WASPI women over state pension age changes

Government confirms no compensation for WASPI women over state pension age changes

DWP finds communication delays did not amount to financial loss

Martin Richmond
clock 17 December 2024 • 4 min read