£2000 NI relief cap on pension salary sacrifice from April 2029 (confirmed)

Cobbler_tone

onomatopoeia99 said:

artyboy said:

BlackKnightMonty said:

Cobbler_tone said:

JoeCrystal said:

Cobbler_tone said:

Grumpy_chap said:

On the subject of budget speculation, can anyone explain to me why the state pension change, NMW and sugar tax changes (EDIT: also change to carers allowance cliff edge) have been formally announced / confirmed today and not included as part of the Budget which is the natural place for tax and spending matters to be confirmed?

TBF most of the budget is public now, so maybe they wanted to soften things ahead of time with a smattering of ‘good’ news.
Not expecting many/any curve balls that haven’t been reported by the reliable BBC.

Not really the case to be honest, there are still a lot left to be announced (especially whatever Bell come up for pension provisions), but the most important documents are not the budget but all the briefing papers and background notes that come with it since it is the small details that matter. Hopefully we will be 'permitted' to discuss the budget's impacts on pensions and retirement provisions today as who know, maybe it is too political!   

Agree the devil is in the detail and not sure if all of the supporting information will be available today. Not forgetting there is a tendency for changing their mind.
My biggest personal fear is the continued impact on employers and the knock on impact in 3,6,12 months time. 

Areas like the frozen tax bands don’t impact my thinking and any changes to SS are too late in the day to make a difference. 

Getting tougher for the young uns though.

Another year of triple lock is adding to the bitterness.

That must be why the FSCS limit is going up, so that all those greedy oldies have a safe place to store their piles of cash. At least until their next round the world cruise.

My 87 year old mother worries about the FSCS limit with her six-figure ISAs in a couple of different building societies, but was relieved she would still get the winter fuel payments as "she needs the money".

It's just that generation. My dad worries a bit. I have no idea what my parents have but I do know that my mum worked 7 years full time before she retired and she has been in receipt of the state pension for 24 years and told me she's never spent any of it. I know from their lifestyle they must spend £15k a year tops.

artyboy

Cobbler_tone said:

I hope the NI charge is applied and taken from the pension contribution and not after. Will make life a lot simpler.

It will certainly be 'simpler' for those of us that are done paying in and are close to starting to take back out 

Grumpy_chap

BlackKnightMonty said:

Another year of triple lock is adding to the bitterness.

TBF, BKM, you have been moaning about the generational inequity of pensions and such like in these boards for so long that you must be just about to step over the fence and reap the rewards of all those hikes... 

artyboy

Anyway, who needs to speculate when the whole thing just gets leaked...

BlackKnightMonty

Grumpy_chap said:

BlackKnightMonty said:

Another year of triple lock is adding to the bitterness.

TBF, BKM, you have been moaning about the generational inequity of pensions and such like in these boards for so long that you must be just about to step over the fence and reap the rewards of all those hikes... 

20 more years for me.

Cobbler_tone

artyboy said:

Cobbler_tone said:

I hope the NI charge is applied and taken from the pension contribution and not after. Will make life a lot simpler.

It will certainly be 'simpler' for those of us that are done paying in and are close to starting to take back out 

It won’t make a difference if you are done paying in. 

BlackKnightMonty

artyboy said:

Anyway, who needs to speculate when the whole thing just gets leaked...

OBR accidentally leaks their report (and essentially the chancellor’s entire budget) ahead of the budget.

https://www.spectator.co.uk/article/live-rachel-reeves-says-budget-tax-and-benefit-hikes-fair-and-necessary/

omnishambles!

artyboy

BlackKnightMonty said:

artyboy said:

Anyway, who needs to speculate when the whole thing just gets leaked...

OBR accidentally leaks their report (and essentially the chancellor’s entire budget) ahead of the budget.

https://www.spectator.co.uk/article/live-rachel-reeves-says-budget-tax-and-benefit-hikes-fair-and-necessary/

omnishambles!

Thanks for mansplaining my post 

JoeCrystal

Oops! Someone is going to be in trouble over at OBR!

westv

JoeCrystal said:

Oops! Someone is going to be in trouble over at OBR!

What an enormous c.ock up!