The Office for Budget Responsibility is expected to downgrade its productivity forecasts, which could leave a £20bn hole in the public finances.
					
				
					
				The Office for Budget Responsibility is expected to downgrade its productivity forecasts, which could leave a £20bn hole in the public finances.
					
				Speculation is mounting that the government could cut or cap the tax-free pension lump sum.
					
				Around 60,000 investors claimed refunds in 2023-24.
					
				Key highlights the need for specialist advice on tax and income risks when gifting from pensions and property.
					
				Autumn tax rises are 'almost inevitable', warns NIESR.
					
				These retirees face a 'triple whammy' due to the knock-on impact of tax rates on savings and capital gains.
					
				The move is expected to affect approximately 780,000 people in its first wave.
					
				Former pensions minister Steve Webb says the news is "victory in 10 year campaign to end scandal of over-taxed pensions”.
					
				Reeves has announced a raise in National Insurance Contribution rate for employers by 1.2%.
					
				Around one in seven have consulted or plan to consult a financial adviser over potential changes in the Budget.
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