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12 February 2018

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.

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.