18/06/24
Lifetime Allowance: www.hl.co.uk/news/labour-drops-lifetime-allowance-…

Visit our 2024 General Election hub for the latest insights and analysis: www.hl.co.uk/uk-general-election-2024-coverage

Key Topics:
Conservative pension reform: The 2023 budget scrapped the lifetime allowance, simplifying pension planning and reducing tax liabilities for high earners.

Labour pension policy: Labour initially planned to reinstate the lifetime allowance if they won the 2024 election, creating uncertainty and anxiety for savers. However, they have now dropped this idea to give people more clarity.