The increase to the pension annual allowance (AA) from £40,000 to £60,000 announced in the Spring Budget is “exciting news” for advice with clients already contacting firms with queries.
Chancellor Jeremy Hunt unveiled a series of changes to pension taxation limits in today's (15 March) speech, with the abolition of the lifetime allowance (LTA) and increases to the AA and money purchase annual allowance (MPAA). Investment Quorum chief executive Petronella West (pictured) said: "These changes will help simplify the pension system again and actively encourage people to invest more in their future. "Our clients have reacted positively to this news and have already started asking us whether they should put more money into their pensions. This is very welcome and exciting ...
To continue reading this article...
Join Professional Adviser
Signup and gain exclusive members-only insights
- 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.
