Month: May 2023

When you receive a pay rise, the first thing that may come to mind is buying a bottle of champagne to celebrate. Rightfully so, too; you deserve to enjoy the fruits of your hard work. After you’ve finished celebrating, it may be worth putting that extra income to work by voluntarily increasing your pension contributions.

In a bid to encourage early retirees back to work, chancellor Jeremy Hunt unveiled several changes to pension allowances during the Budget. The announcements could mean you’re able to save more in your pension and boost your retirement income.  Here are the four key pension changes Hunt announced.  1. The Lifetime Allowance will be abolished