Investors are facing a new reality in the wake of the 2023 Budget, which introduced substantial changes to the pension system. Chancellor Jeremy Hunt's surprising move to eliminate the lifetime allowance and increase the annual allowance was welcomed by most savers, but the reforms also emphasise the need for investors to keep up to date with latest developments.
Add the potential for a new government next year - Labour has committed to reinstating the lifetime allowance - and it is clear that investors must stay informed in order to ensure they are safeguarding their investments and planning for the future appropriately.
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