Another budget, another chance to tinker with your pension?

It seems only five minutes since the Chancellor’s Autumn Statement, but next month will see George Osborne deliver his annual budget. Cue media speculation and gossip about the changes he is likely to make to your pension. If the stories in the press over the past few days are to be believed, the Treasury are considering some pretty fundamental changes to our pensions. We thought we’d round these up and look in more detail at what may or may not happen. Higher rate tax relief facing the axe? The Telegraph reported at the weekend that Danny Alexander (right), the Liberal Democrat Chief Secretary to ...

Public sector retirement age to be linked to state pension age

In a speech made yesterday Danny Alexander, Chief Secretary to the Treasury, (left) has confirmed  that the retirement age for public sector pensions will in future be linked to the state retirement age. In addition Mr Alexander also confirmed that member contributions will have to rise, although he went on to say that these rises would be capped for the low paid. He also confirmed that existing benefits, already accrued by members, will be protected. Mr Alexander said that public sector pensions should be "affordable and sustainable but still amongst the very best available". He went on to say that "It is ...