Will Labour cut the 25% pension tax-free cash in the Autumn Budget?

The chancellor is said to be considering reducing the maximum amount of tax-free cash that pension savers can take. Should you take your money now just in case?

Senior woman filling out financial statements
Will the government reduce the pension tax-free cash limit in its first Budget?
(Image credit: PIKSEL)

This article is out-of-date. Please see our newer article on this topic: What is the 25% pension tax-free cash - and when should you take it?

The Labour government is rumoured to be considering slashing the maximum tax-free cash that pension savers can take from their pots.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.