Source: Reuters

British Prime Minister Rishi Sunak and finance minister Jeremy Hunt plan to reveal a stealth tax raid on pensions later this month, The Telegraph reported on Friday.

The pension lifetime allowance is set to be frozen for two more years, with a rise in line with prices delayed from 2025 to 2027, the newspaper said, without citing sources.

The allowance level has risen with prices in the past, but Sunak, as the finance minister last year, froze the allowance until 2025. The move was forecast to bring the Treasury close to a billion pounds over the period, Telegraph said.

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