JLT commentary on2017 Autumn Budget

22 November 2017

Has the Chancellor overlooked the opportunity for employers to help homeowners?

John Wilson, Head of Technical, JLT Employee Benefits, says:

“This budget is more of a reprieve than a non-event for pensions. It’s good to see the Chancellor encourage first time buyers into home ownership. There is an important role for employers to play here through workplace savings, so it’s disappointing that the Chancellor hasn’t made it easier to contribute to workplace LISAs.

By making pensions and LISAs (or ISAs) work in tandem as a workplace savings platform, it is possible to develop an incentive scheme more compelling than pension or LISA saving alone. From saving for a deposit towards a first house purchase to bringing up a family, paying off debt, and saving for retirement, greater choice in workplace saving gives employees more scope to tailor their saving and spending to different stages of their life.”

Notes to Editor

Enquiries:

JLT Employee Benefits

Corinne Gladstone, PR Manager| T: +44 (0)20 7895 7705| E: corinne_gladstone@jltgroup.com

Smithfield Consultants:

Emily Cullen | T: +44 (0)20 3047 2530| E: ecullen@smithfieldgroup.com 

About JLT Employee Benefits

JLT Employee Benefits is one of the UK’s leading employee benefit providers offering a wide range of benefit and pension services, including administration, actuarial and pension consultancy, investment, Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSASs) administration, flexible benefits, healthcare, benefit communication and financial education.

JLT Employee Benefits employs over 2,200 professionals throughout the UK and in 2015 had revenues of £167.4m in UK & Ireland.

Pensions and employee benefits companies within the JLT Employee Benefits group of companies include: JLT Benefit Solutions Ltd, Profund Solutions Limited, JLT Wealth Management Limited, JLT Investment Management Limited and Independent Trustee Services Limited. JLT Employee Benefits is part of Jardine Lloyd Thompson Group plc.

www.jltemployeebenefits.com

About Jardine Lloyd Thompson Group plc

Jardine Lloyd Thompson is one of the world's largest providers of insurance and employee benefits related advice, brokerage and associated services. JLT's client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.

JLT is quoted on the London Stock Exchange and owns offices in 41 territories with some 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 141 countries.

www.jlt.com