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Am I right to panic?

Discussion in 'Retirement' started by iankelly, Mar 11, 2012.

  1. I read in the Independent yesterday that the budget in two weeks time may attack pensions again.
    Rumours include taxing lump sums. Maybe this is for private pensions only. I can imagine if they did this to teacher lump sums there would be an almighty uproar. Having just applied for ARB and retiring in the summer I find this a tad worrying.
    http://www.independent.co.uk/news/uk/politics/osborne-urged-to-rethink-pensions-7551927.html

     
  2. I read in the Independent yesterday that the budget in two weeks time may attack pensions again.
    Rumours include taxing lump sums. Maybe this is for private pensions only. I can imagine if they did this to teacher lump sums there would be an almighty uproar. Having just applied for ARB and retiring in the summer I find this a tad worrying.
    http://www.independent.co.uk/news/uk/politics/osborne-urged-to-rethink-pensions-7551927.html

     
  3. Even if it did come into force I would imagine they would have to protect people who have already applied.
     
  4. I could not see any mention of taxing lump sums in the article. I can not see how changes to tax relief on pension contibutions for higher rate tax payers will impact on lump sums paid out this summer.
     

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