income tax<\/a> brackets.<\/p>\nAnd experts warned of reductions in the annual allowance or the return of the lifetime allowance while salary sacrifice could also be abolished.<\/p>\n
Rumours of an attack on the lump sum proved particularly damaging ahead of Labour\u2019s Budget last autumn as savers withdrew cash from their pension pots.\u00a0<\/p>\n
Investment firm AJ Bell is now calling on the Chancellor to rule out any raid on retirement savings by bringing in a pensions tax lock to provide certainty.<\/p>\n
\u2018This was the Chancellor\u2019s last foray into the limelight before the Budget and attention will now turn to what tax rises might be in the post,\u2019 said Laith Khalaf, head of investment analysis at AJ Bell.<\/p>\n
\u2018Amid growing fiscal pressure, there\u2019s a real risk that pensions tax reform speculation, especially around tax-free cash and tax relief, will return to the headlines.<\/p>\n
\u2018Rather than let uncertainty rattle savers, the Chancellor should introduce a pensions tax lock, ruling out changes to tax-free cash or pension tax relief for the rest of this Parliament.<\/p>\n
\u2018A commitment would offer investors the confidence to plan for the long term and give momentum to the retail investing revolution Rachel Reeves wants.\u2019<\/p>\n
Tomm Adams, a partner at Blick Rothenberg, said: \u2018Reeves has been suspiciously quiet on the pensions front. But with an expensive funding plan, I\u2019m not alone in asking: \u201cWhere\u2019s the money coming from?\u201d<\/p>\n
\u2018Basic arithmetic suggests that autumn tax rises look inevitable. Unfortunately, pensions tax relief is the perfect target.\u2019<\/p>\n
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\n Reeves urged to rule out pensions tax raid amid mounting concern over how she will pay for her lavish spending<\/p>\n","protected":false},"excerpt":{"rendered":"By HUGO DUNCAN Updated: 17:01 EDT, 11 June 2025 Rachel Reeves was last night urged to rule out…\n","protected":false},"author":2,"featured_media":177359,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,474,1232,1284,2499,1283,16,15],"class_list":{"0":"post-177358","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-money","11":"tag-moneymarkets","12":"tag-personal-finance","13":"tag-thisismoney","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114668285936897674","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/177358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=177358"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/177358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/177359"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=177358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=177358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=177358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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