What will the 2015 budget bring? Guest blog by Ralph Frank



The UK pensions industry, as well as its regulators and the Government, is still getting to grips with the consequences of the 2014 Budget. The changes set in motion by last year’s announcements will not have been fully implemented by the time the pre-Election Budget is tabled next week. What measures might lie in store this time around?

I hope that no further changes to the UK pensions regime arise from the 2015 Budget. The savers directly affected by the changes of the last 12 months, their advisors, product providers, fiduciaries, regulators and related parties are working furiously at becoming wise to the new pensions landscape by Easter. Muddying the waters with further substantive changes now would not be helpful.

If forced to pick a change, or few, my wish list is focused on simplification of the governing landscape and includes:

  1. Abolition of the Lifetime Allowance;
  2. Consolidation of regulatory oversight of the pensions industry under a single body; and
  3. Demonstrable consistency of policy/incentives across related areas, e.g. pensions and care.

Given the minor event coming up in less than two months, there are a few more balls than usual bobbling about in the Budget lottery pot. What changes do you think will be announced? What changes would you like to see?

About henry tapper

Founder of the Pension PlayPen,, partner of Stella, father of Olly . I am the Pension Plowman
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