Certainty around pension taxation was the number one priority (59%) for next week’s Budget for financial advisers, according to new research.

A new petition is calling on government to make a public commitment to a Pension Tax Lock, pledging not to alter key pension tax incentives – tax-free cash entitlement and tax relief – for at least this Parliament.

HMRC repaid £44.3m to savers who paid too much tax when first accessing their pension between 1 July and 30 September this year.