Chancellor’s tightrope walk will leave us holding our breath October 8, 2024 By tradition, Chancellors are allowed a stiff drink at the despatch box as they deliver their Budget. Parliamentary records tell us that Gladstone enjoyed sherry and beaten egg while the most recent Chancellor to indulge in this ancient right, Ken Clarke, opted for a straight whiskey. Since then, there’s been nothing but water in the [...]
‘Hugely damaging’: AJ Bell warns Reeves against pension tax raid October 7, 2024 AJ Bell has added to mounting calls for Rachel Reeves to retreat from a raid on UK pensioners today as it warned rumours of the government’s tax plans were “hugely damaging” and “making people fearful about long-term saving”. In a call to the Chancellor, the FTSE 250 savings and investment platform, which is headquartered in [...]
Budget: Rachel Reeves set to drop pensions tax raid plans, per report October 7, 2024 Rachel Reeves is reportedly set to drop plans for a tax raid on pensions over fears it could unfairly affect public sector workers. The Chancellor has been warned that a scheme to reduce the 40 per cent tax relief on higher earners could disproportionately impact teachers and nurses, the Times reported. Treasury officials told Reeves [...]
Is Rachel Reeves about to force pension funds to back Britain? October 7, 2024 The prospect of Rachel Reeves forcing pension funds to back British stocks is being discussed as a more serious possibility, writes Charlie Conchie As the City grandees Nicholas Lyons and Peter Harrison gathered a room of executives for a workshop at the London Stock Exchange last month, a familiar gripe was on the agenda. The [...]
Fiddling with pensions is fine. Changing the overall model is not, though October 5, 2024 Most Chancellors tinker with pensions allowances - but it's important to remember that none have changed the underpinning model of pensions tax relief - for good reason
Is Rachel Reeves planning a £24bn pension tax raid? October 1, 2024 It has been reported that the Treasury is considering what could amount to a £24bn pension tax raid as Rachel Reeves tries to plug her £22bn budget black hole. The Chancellor has reportedly been looking at tax relief on pension contributions, specifically, employers’ national insurance relief. There are two forms of national insurance. Employees, paid [...]
‘Pension death tax’ on the cards as Reeves looks to raise cash September 24, 2024 Tom Selby, director of public policy at AJ Bell, said many of the possible reforms come with "significant practical and political challenges".
Pension giants ink £1bn build-to-rent deal September 23, 2024 “We can see there’s a critical shortage of housing supply, coupled with increasing demand for high-quality rental homes,” said Elizabeth Fernando, chief investment officer at the workplace pension fund said.
Reeves to strike positive tone in Party Conference speech September 23, 2024 Rachel Reeves is set to promise a Budget that will “rebuild Britain” in a speech at the Labour Party Conference that will claim that the “work of change has only just begun”. In a notably more optimistic tone than Labour has adopted in recent weeks, the Chancellor will vow to deliver a “Britain of opportunity, [...]
Why do only half of Gen Z professionals think pensions are important? September 21, 2024 Just 56 per cent of Gen Z think saving for a pension is important compared to 77 per cent of Gen X – and that spells trouble for their retirement, says Daniel Harris Generation Z professionals may not be taking their pension contributions seriously enough – a mindset which could potentially impact their future retirement. [...]