9. Government rules out pension lump sum changes in Autumn Budget
Ahead of the Autumn Budget, there was much speculation over whether Chancellor Rachel Reeves would cut or cap the tax-free pension lump sum, which currently allows savers to withdraw up to 25% of their pension pot tax-free, up to £268,275.
However, speaking to The Telegraph, officials confirmed that Reeves would leave the 25% tax-free pension lump sum withdrawal limit in place following a spike in pension lump sum enquiries.
Enquiries from clients about taking lump sums from their pensions jumped 45% between October and November 2025, internal data released by deVere Group shows.
