BB FANS

MILLIONS of Britons could see tens of thousands of pounds wiped off their pensions in a double whammy in next month’s Budget.

Amid speculation that the “overly generous” higher-rate tax relief on pensions may be scrapped, there were growing fears that the Chancellor may go even further and tax pension lump sums for the first time.

That would come as a crippling blow to many who rely on those payments when they retire to settle their mortgages and other debts.


Express