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Budget to boost lifetime allowance for pension savings
Comments
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The link below shows a good example of a prudent pension saver who decided to stop pension payments due government tinkering.
The person in the story may now restart pension contributions after today hopefully but, how will the government make good for the good prudent people who actually activated pensions at LTA of 1 or 1.073M these last few years paying LTA charges and/or using up vast % of them dropping LTA values, I really hope he will look after these unfortunate people and just maybe they will save a few more votes at the next election.
https://www.thisismoney.co.uk/money/pensions/article-11858843/JEFF-PRESTRIDGE-Chancellor-plotting-raid-pensions.html
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Well I was starting to cut back this year to the level that just got me maximum matching from my employer - admittedly it still takes me close to my AA but now I'll be topping up a few thousand more, because of the additional LTA headroom that I will have.0
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Crikey.....he just said he was abolishing the LTA.
ABOLISHING it.
Did I mis-hear something?
Plan for tomorrow, enjoy today!3 -
Nope, no upper limit.....cfw1994 said:Crikey.....he just said he was abolishing the LTA.
ABOLISHING it.
Did I mis-hear something?"We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein1 -
What a gift to the super wealthy, wow!Clive_Woody said:
Nope, no upper limit.....cfw1994 said:Crikey.....he just said he was abolishing the LTA.
ABOLISHING it.
Did I mis-hear something?2 -
Encourages them to work longer and keep paying taxes therefore benefiting the whole of society.[Deleted User] said:
What a gift to the super wealthy, wow!Clive_Woody said:
Nope, no upper limit.....cfw1994 said:Crikey.....he just said he was abolishing the LTA.
ABOLISHING it.
Did I mis-hear something?"We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein0 -
The super wealthy that can only put £4,000 a year into pensions due to the annual allowance taper? They'll be dancing in the streets of Mayfair tonight!Tucosalamanca said:What a gift to the super wealthy, wow!
(I haven't seen if Hunt is increasing this again.)1 -
Not really as the AA will restrict how much they can put into their pension. Also looks like the AA taper is remaining, so anyone on a Lineker type salary would only be able to pay under 1% of their earnings into their pension without facing an AA charge.[Deleted User] said:
What a gift to the super wealthy, wow!Clive_Woody said:
Nope, no upper limit.....cfw1994 said:Crikey.....he just said he was abolishing the LTA.
ABOLISHING it.
Did I mis-hear something?
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Taper going to £10k apparently0
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