Budget 2016: A more flexible future for pensions?

16 March 2016

It was very interesting to see today's Budget announce that the tax efficient access age for the new Lifetime ISA (LISA) has been set at 60.

If this marks the start of a transition towards reform of pensions taxation and the introduction of the pension ISA, it could also point to an eventual change in the State Pension Age (SPA) as access to private pensions has usually been around 10 years before the SPA.

PwC has previously advocated that a fixed age for the state pension is inflexible and does not meet the needs of today's workers. So I'm particularly interested to see if moves in benefit ages for LISA point to what could be a more flexible future for access to the state pension.

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