Following extensive media reports that the Chancellor was considering a reduction in the pension Lump Sum Allowance level, we can confirm there was no change announced in today’s Budget Statement.
We now urge the Government to confirm no such measure will be considered in future, thereby allowing the Armed Forces community to proceed safe in the knowledge that the tax-free lump sum remains a core part of the Armed Forces Pension Scheme.
Read our previous communications on this topic here.
