Pensions: Workplace Pensions

Treasury written question – answered on 21st March 2023.

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Photo of James Murray James Murray Shadow Financial Secretary (Treasury)

To ask the Chancellor of the Exchequer, with reference to the Spring Budget 2023, HC1183, published on 15 March, if he will publish an estimate of how many (a) people and \b) NHS Doctors will benefit from the (i) increase in the Pension Annual Allowance from £40,000 to £60,000 and (ii) charge removal and abolition of the Pension Lifetime Allowance in each year of the forecast period.

Photo of James Murray James Murray Shadow Financial Secretary (Treasury)

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of (a) the increase in the pension annual allowance, (b) the charge removal and (c) abolishing of the pension lifetime allowance on the level of employment of NHS doctors; and if he will place a copy of this assessment in the House of Commons Library.

Photo of Andrew Griffith Andrew Griffith The Economic Secretary to the Treasury

Information on the abolition of the lifetime allowance can be found in the Pension Tax Limits Policy paper Pension Tax Limits - GOV.UK (www.gov.uk)

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