A petition is calling on the Chancellor to introduce a Pension Tax Lock to protect retirement savings.
Any change to pension lump-sum payments would undermine trust and confidence in the promised pension scheme benefits.
The option of a tax-free-Lump-Sum Allowance (LSA) is an integral part of the Civil Service pension scheme promise and remains an important element in planning for retirement, and has been for many decades.
Any change to the level of the LSA or any other restriction on the arrangement would significantly impact on many Civil Servants planning for their retirement and would undermine trust and confidence in the promised Civil Service pension scheme benefits.
We urge members to support this petition and help us help you in protecting what you’ve earned.
