How the UK Budget may impact pensions and taxes

The upcoming 2024 UK Budget could bring significant changes for pension savers and taxpayers. Speculation surrounds potential adjustments to pension tax relief and rules around tax-free lump sum withdrawals, with concerns over higher taxes due to the government’s fiscal challenges. The Chancellor has already indicated that increased taxes will be necessary, even though changes to pension tax relief might be off the table for now. Investors are watching closely as these potential shifts could have a lasting impact on retirement planning and savings. Read the full article to learn more about...