The government could scrap a major pension perk which Martin Lewis reckons is a "superpower". Reports indicate that officials are now reviewing proposals for a flat 30% rate of pensions tax relief, a policy previously supported by Labour Party Chancellor Rachel Reeves in 2016 as a backbencher.

If implemented, this could generate up to £2.7 billion in revenue – while redistributing some advantage away from higher earners. “Many clients are already asking what a potential change in pensions tax relief might mean for their long-term plans,” says Brian Morman, Director at Brunsdon Financial.

“While no official reforms have yet been announced, it’s a good time to review your pension strategy and make sure it remains tax-efficient."

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