I don't think he will change the current minimum age of 55. This is already scheduled to rise to 57 from April 2028, a mere five years away. It would cause an admin nightmare across all pension providers and piss off a huge number of people looking to access pensions in the next 5 years.Today's the day.
Let's see how the retirement landscape changes.
I'm praying he has to give notice of increasing the Normal Minimum Pension Age from 55 - surely the pension companies would need to time to implement any changes. Hopefully my summer isn't ruined.
Beyond that they've certainly trial-ballooned bringing forward the age at which state pension kicks in to 68. Just a question of when the new date is.
Increasing the MPAA to £10K looks like a potential positive change.
12:30 today.
Part of the reason for not having a flat rate of tax relief on contributions (for example 30% rather than higher rate tax payers getting 40% and basic 20%) is that it is is not simple to put in place by providers. Particularly in public sector pensions.
Can't see them scrapping the ability to access at 55 with all the nightmares that will bring for what would be a relatively small gain for government coffers.