Pensions - Articles - Broadstone comment on Election result's effect on pensions

 “We know the Conservatives have plans to roll back the tax relief for people earning over £150,000 – so those high earners interested in making the most of the benefits of contributing to a pension scheme should do so before the shutters come down later this year.

 “The rest of the Conservative’s manifesto was relatively quiet on pensions and so we can, perhaps, expect a quieter time for pensions. There was no mention in the manifesto of the sale of annuities, although incoming Consumer minister Ros Altman is in favour of the policy and so it may yet get a second wind. She has also spoken in favour of lowering the level where advice is required for a transfer from a DB scheme to £10,000 so we may yet have further changes to make.

 “The big question is which person will get the now vacant pensions minister brief. We’ve enjoyed a period of consistency with Steve Webb the incumbent for the whole of the parliament. We may be set for a return to period of pensions musical chairs. Boris Johnson would certainly be an interesting choice.”