The Autumn Budget 2017 included little on the subject of pensions. However, you should be aware of a few developments.
The 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.