PolicyWatch Special Edition - Autumn Budget 2024

The first Labour Budget in 14 years saw the Chancellor focus on building economic stability and delivering on growth. Whilst pensions tax relief speculation had been ramping in the days prior to the Budget, from a pensions policy perspective, it was a quieter than expected event. The main announcements from today included:

• Recommitment to the Governments pensions and growth drive
• Pensions brought into inheritance tax rules
• State Pension Triple Lock and Pension Credit take up
• Employer National Insurance rises
• Mineworkers pension scheme
• Starting rate for tax on savings
• Reducing tax-free overseas transfers of tax relieved UK pensions

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