Autumn Budget 2017 Reaction: Pensions

Chancellor Philip Hammond delivered his second Budget of 2017 to Parliament this afternoon. We have created a video and a series of short blogs on various tax and business related Budget announcements to help clarify some of the details behind the headlines.

 

No significant changes to pensions were announced.

 

For 2018-19 the lifetime allowance for pension savings will increase in line with the Consumer Price Index to £1,030,000.

 

 

All other pension allowances remain static, as follows:

 

£
Annual allowance 40,000
Tapered annual allowance (income limit including pension contributions) 150,000
Money purchase annual allowance 4,000
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