Budget Reaction – good news day for pensions at last
BUDGET 2023 – It’s good news day for pensions! Chancellor takes brilliant bold decision to abolish Lifetime Allowance altogether. At last a move that is likely to benefit pensions, reduce complexity and increase employment. Abolishing Lifetime Allowance and raising Annual Allowance can facilitate more pension assets being invested to boost growth. Government pays over £40billion a year into people’s pensions, so makes sense to use some for growth-boosting infrastructure, social housing, net zero and nature preservation investment. A new era…