Labour abandons plan to reinstate pensions lifetime allowance, benefiting savers.
Labour reportedly drops plans to reinstate the pensions lifetime allowance, boosting savers. The party had previously said it was the 'wrong priority' but party sources told the FT that reinstating the allowance would be complex and add uncertainty. The Government abolished the old £1.073m lifetime allowance last year, but Labour said at the time the party would bring it back if elected.
June 10, 2024
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