Autumn Budget 24: Heavily rumoured pension changes fail to emerge

Chancellor Rachel Reeves earlier today delivered the first Budget of this parliament and the first from a Labour government for more than 14 years. The UK's first female chancellor confirmed she will raise taxes for the UK by £40bn, but chose not to target workplace pensions when seeking to raise tax revenues. Heavily rumoured changes ahead of her speech today included the potential reduction or removal of the 25% tax-free lump sum, levying national insurance contributions (NICs) on pension contributions, and potentially the re-introduction of the lifetime allowance – which was abolis...