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fromwww.independent.co.uk
2 weeks ago

Rachel Reeves considers cutting tax-free pension lump sum to raise billions

Rachel Reeves could consider cutting the amount savers are allowed to withdraw in a lump sum from their pension pots as she seeks to plug a multi-billion-pound hole in the public finances. The chancellor will look at proposals from civil servants that could raise around 2bn by lowering the limit on how much people are allowed to take out of their pension without paying tax. Currently, pensioners can take out a quarter of their pension pot tax-free, with a cap of 268,000.
UK politics
UK politics
fromBusiness Matters
3 months ago

Winter fuel payment U-turn in place this year, but key details remain unclear

More pensioners eligible for Winter Fuel Payment signifies a shift in Labour policy after criticism and electoral repercussions.
UK politics
fromwww.bbc.com
3 months ago

I'm listening to winter fuel concerns, says Reeves

Chancellor Rachel Reeves is open to addressing concerns about winter fuel payment cuts for pensioners, acknowledging their impact amid government financial constraints.
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