The Labour Party appears strongly committed to its pledge to reverse the lifetime allowance (LTA) on pension savings leaving advisers and their clients open to uncertainty and risk, according to AJ Bell.
Head of policy development Rachel Vahey said Labour's repeat call this week to reverse chancellor Jeremy Hunt's abolition of LTA "feels very much like political posturing". The Finance Bill 2023 is currently passing through parliament, with Labour having proposed amendments this week reflecting its stance on LTA. The changes to the bill - which is expected to receive Royal Assent imminently - outline an alternative approach that would only provide LTA changes for NHS doctors. "This introduces uncertainty for advisers and their clients who are making decisions on how to take pension be...
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