Chancellor Jeremy Hunt has reaffirmed the Government’s plans to give people one ‘pension pot for life’, moveable from job to job, despite concerns shared by the financial advice industry.

Chancellor Jeremy Hunt will today promise “evolutionary not revolutionary” pension reforms to unlock capital for high-growth businesses and boost outcomes for pension savers.

Richard Mattison, director at SSAS specialist Whitehall Group, comments on the scrapping of the Lifetime Allowance, the raising the Annual Allowance and the unintended consequences they could cause.

Chancellor Jeremy Hunt shocked the pensions sector in his Budget today by announcing that he would 'scrap' the pensions Lifetime Allowance and increase the annual allowance from £40,000 to £60,000.

The Resolution Foundation has urged Chancellor Jeremy Hunt to use next month's Budget to raise the age at which people can access tax-free private pension wealth.

Chancellor Jeremy Hunt has confirmed that the State Pension will rise in line with September's CPI inflation rate of 10.1%.

New Prime Minister Rishi Sunak MP has retained Jeremy Hunt MP as Chancellor in his first Cabinet.