PLSA comments on Budget impact on pensions

Nigel Peaple, Chief Policy Counsel at the PLSA, said: “Contrary to the many rumours that the Budget would undermine pension saving by reducing or removing fiscal support to pensions in general, we were very pleased to see that this did not take place. Most people in the UK need to save more, not less, into a pension to have a good retirement income.

“Plans to make inherited pension pots subject to inheritance tax will impact a small minority of individuals. It is the PLSA’s view that money saved into a pension should be used for paying retirement income for the saver or their spouse or civil partner.

“We welcome the focus in this Budget on investment, in particular, the change to the fiscal rules to support public investment and the promise of policy certainty provided by a long-term modern industrial strategy. We also welcome the Government’s use of the British Business Bank and the National Wealth Fund to facilitate pension fund investment in the UK, as we’ve recommended.”

Mark Smith, Head of Media Relations
020 7601 1726 | [email protected]

Cali Sullivan, PR Manager
020 7601 1761 | [email protected]