Thu 4 Jun. 2020
Post-Pandemic Pensions - What Could Change?
Financial Liverpool today hosted their second webinar for members since lockdown began. We were very pleased to welcome back James Jones-Tinsley from Barnett Waddingham for an insightful talk about ‘post-pandemic pensions’.
James shared some very startling figures of estimated Government costs for all the Covid-19 income and business support schemes they are funding. And a very worrying £330bn estimated budget deficit figure!
He then went on to explore some of the measures the Government may take to help repay the deficit, including potential changes to pension tax relief, allowances, state pension and wider tax legislation. It’s very clear the Government will need to take some action, and possibly quite drastic following our time of crisis. Attendees seemed very engaged, with some great questions being posed to James after the presentation. This talk obviously got people thinking and it will be interesting to see what’s changed by this time next year, and what action the Government take between now and then. An emergency budget seems very likely!