15,000 make their point in Pension Tax Lock petition

A PETITION demanding a Pension Tax Lock has topped 15,000 signatures in less than two weeks, forcing a formal Government response.

- By Kris Boratyn

Launched by investment platform AJ Bell earlier this month, it urges Chancellor Rachel Reeves to guarantee pension tax relief and preserve the right to take 25% of a pension pot tax-free.

It follows fears that tax-free cash could be reduced or scrapped in a future Budget.

Tom Selby, of AJ Bell, said: "Pension savers across the UK have sent a clear message to the Chancellor: we need a firm commitment to a Pension Tax Lock to allow people to plan ahead with certainty."