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READ MORERishi Sunak may target pension tax-free cash in upcoming Budget - 'makes more sense'
Pension tax-free cash could be on the table in the next Budget, experts have suggested, as the Chancellor Rishi Sunak looks for ways to raise funds. However, he has been warned the move, if it were to occur, would be "extremely unpopular" amongst Britons.
Pension saving is usually seen as a sensible move for those planning towards their retirement, and to incentivise Britons to do so, it comes with a number of perks. One of these is the idea of tax-free cash. It means savers can take up to 25 percent of the amount built up in any pension as a tax-free lump sum. This lump sum does not affect an individual’s Personal Allowance either, making it even more of a benefit.
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