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The Government has responded to calls to introduce a Pension Tax Lock to "help ensure retirement savings are protected and people can save with confidence."

A petition online calling on Labour to not reduce the amount people can withdraw from their pension tax-free or the amount of tax relief given on pension contributions has reached almost 20,000 signatures - prompting a response from the Government. If it reaches 100,000 it will be considered for debate in Parliament.

The HM Treasury says that "the Government does not comment on proposed tax changes or tax related speculation ahead of Budgets." Chancellor of the Exchequer Rachel Reeves is set to announce the Autumn Budget on November 26.

It said: "The Government is committed to ensuring pensioners have security in

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