The Labour Government is set to announce its first budget on 30 October 2024 and there's an expectation that the UK's pension system will come under the spotlight. Every DC pension scheme should prepare themselves for the impact of any changes. 

In this publication, we outline our thoughts on what the possible changes could be, as well as the impact these may have on employers and savers. This includes:

• Removal/reductions of National Insurance savings on employer contributions. 
• Flat rate tax on pensions. 
• Reductions in the tax-free cash allowance on pensions. 
• Inclusion of pensions in the Inheritance Tax regime. 
• Pension tax credits on UK investments.

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If you'd like to discuss anything covered in this publication further, please don't hesitate to get in touch.