Pensions industry says Budget 'will give savers some certainty'

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The pensions industry has welcomed the Budget, describing it as giving certainty to savers.

Budget documents show the annual Isa subscription limit for 2018-19 will remain unchanged at £20,000.

The annual subscription limit for Junior Isas and Child Trust Funds for 2018-19 will be uprated in line with inflation to £4,260.

The lifetime allowance for pension savings will increase in line with inflation, rising to £1,030,000 for 2018-19.

Tom McPhail, head of policy at Hargreaves Lansdown, said a lack of big changes "is a welcome relief after years of political interference and the salami-slicing of reliefs and allowances".

Royal London said: "It's good to see a Chancellor has for once followed what the industry has long called for - to leave pensions Isas or other savings and investment vehicles well alone.

"This will give savers some certainty going forward while the country faces the uncertainty of Brexit."


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