Pensions industry says Budget 'will give savers some certainty'

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."

Read Full Story