Budget to boost lifetime allowance for pension savings
Jeremy Hunt will use his Budget to boost the lifetime allowance for pension savings of up to £1.8m a year to encourage people to keep working.
The Chancellor could also increase the £40,000 annual cap on tax-free contributions to pensions.
It is expected millions could benefit from the rise - which would address government concerns that people earning higher wages retire earlier, particularly doctors and consultants.
The Treasury said it will not comment.
Currently, the so-called lifetime allowance - the amount you can accumulate in your pension pot before extra tax charges - is £1.07m.
Mr Hunt will outline his Spring Budget to Parliament on Wednesday.
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also re LTA - I took pension with IP 2016 but can't take private pension with losing £££££ from it - maybe I will now if the LTA goes up
The bigger issue is sick notes and an UC/benefits system one feels needs looking at to help people in work be much better off.
I realise there's an imbalance there across the profession but it did raise a wry smile.
When I started as Junior Doctor I worked bank holidays for 30% of the normal pay, cleaners were on time and a half so much better off - but hey things got better over time