Pensions tax breaks: Budget 'kite-flying' creating cash management challenge

With the Budget now set for 26 November, rumours continue to swirl about the chancellor's plans to cut the tax-free pension allowance. The ongoing surge in panic withdrawals from retirement pots in response to these potential changes highlights the urgent need for advisers to prioritise short-term cash management for their clients. Currently, individuals nearing retirement can withdraw up to 25% of their pension as a tax-free lump sum, subject to a maximum of £268,275. However, since the 2024 Budget revealed that chancellor Rachel Reeves was considering reducing this allowance b...