Should I change my pension contributions ahead of the Autumn Budget?

dllive

Hi all,

I know noone has a crystal ball, but curious to hear what others are doing ahead of the Autumn Budget regards pension contributions.

All my SIPP contributions are in passive world index trackers (Vanguard), and Im a HR tax payer. Used up my ISA allowance.

I presume the goverment will do a little fiddling with pensions, but Im not sure obviously.

Ive decided to hedge my bets, and quickly shuffle a load of contributions in before October 30th; and retain the rest of my conrtibutions for after the Autumn budget.

Im just kinda curious to hear what others are doing. 

Thanks

Marcon

I'm ignoring all pointless speculation and waiting to see what is actually in the budget.

dllive

Marcon said:

I'm ignoring all pointless speculation and waiting to see what is actually in the budget.

Yes, thats probably sensible!

collins74

Same as Marcon - making no changes until we know the budget.  I am keeping a close eye on the possible reduction of the tax free sum. 

sgx2000

Just wait 2 weeks and see...

ewaste

I'm also doing nothing as I expect little to no real change that'll impact the vast majority of people. Any proposed changes will take time to implement anyway so as long as I bother to pay attention it's not an issue.

Brie

certainly no point in changing what you're invested in as the budget will have little long term affect on that.

ali_bear

Steady as she goes. I'll be away on holiday come the budget, and US election, anyway - so stuff the lot of you 

granta

I'm not making any changes pre-Budget either.

But I'm curious to know how feasible it would be to implement any pension tax changes mid- tax year anyway?

Therefore I'm going on the assumption that we would have until April 2025 to make adjustments before anything kicked in! But could be wrong, I don't know if historically there have been changes of this nature that have been implemented immediately.

Asimovs_nightfall

ali_bear said:

Steady as she goes. I'll be away on holiday come the budget, and US election, anyway - so stuff the lot of you 

Rebel!

One of the things that these Daily Mail inspired threads have missed though is that any changes to pensions in the forthcoming budget might actually be the basis of inspiring and encouraging more people to save more and invest more into a pension.  You know, create conditions for the government's planned economic growth.  Without diving into the political hue of it all, there is an equal chance that we might be looking at a positive change for pensions! 

Dazed_and_C0nfused

granta said:

I'm not making any changes pre-Budget either.

But I'm curious to know how feasible it would be to implement any pension tax changes mid- tax year anyway?

Therefore I'm going on the assumption that we would have until April 2025 to make adjustments before anything kicked in! But could be wrong, I don't know if historically there have been changes of this nature that have been implemented immediately.

It's not technically a pension change but, for some people, the NI benefit of sacrificing salary into a pension was definitely reduced mid year under the last government.