Speculation that chancellor Rachel Reeves could look to alter the pension tax-free cash lump sum limit has emerged again ahead of the Autumn Budget, but the key message from industry stakeholders is to remain cautious in the face of leaks and rumours.
The Telegraph reported that Reeves is considering cutting the pension lump sum that can be claimed tax-free, which currently stands at 25% up to £268,275, as part of revenue-raising measures to raise as much as £2bn a year. This same speculation circulated ahead of last year's Autumn Budget, which led to many people rushing to withdraw tax-free cash only to find that Reeves had decided to leave it untouched. Some of those individuals were still in work. Nucleus technical services director Andrew Tully told PA that this is an "annual rumour" as the UK approaches any fiscal event, but i...
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