News
Pensions are constantly evolving and there may be changes that affect your membership. Therefore, it’s important to keep up to date with what’s happening. Here, we seek to provide you with news which is particularly relevant to you.
A quiet Budget for pensions
The Autumn Budget 2017 included little on the subject of pensions. However, you should be aware of a few developments.
The Autumn Budget 2017 included little on the subject of pensions. However, you should be aware of a few developments.
T
he Chancellor of the Exchequer, Philip Hammond, delivered the first Budget of the new government on 22 November 2017.
There were no other significant pension-related announcements. However, the Budget did confirm that:
- The basic State Pension will increase by 3% in April 2018, in line with the triple lock; and
- The Lifetime Allowance will increase by 3% to £1,030,000 from 6 April 2018.