Many people appear to be worried about their pensions nowadays, largely in respect of the ability to take a 25% tax-free lump sum at retirement. This lump sum remains something of which most people are aware and which many quite like.

Recently, there has been a rumour that the government might be changing the rules about that lump sum. This now leaves some of them wondering—should they take their 25% now just in case the government does something to make it harder to get in the future?.

I’ve had a lot of questions on that from concerned people, where I could only say it would be difficult to decide what would eventually be decided by the government. Well, they haven’t made up their minds yet.

One of the real benefits of having a pension is the ability to take a tax-free lump sum. Most people do rely on it at retirement, in which case withdrawal would be a very political decision, as it is expected by so many people.

Earlier, many politicians from both Labor and Conservative parties have considered changing these rules but usually end up deciding not to do anything as many people seem to enjoy it. Just recently during the run-up to the election, Prime Minister Keir Starmer also spoke about changing it, but his party issued a hasty correction: that it was a mistake.

One of the things which that could possibly change is the amount of tax-free cash you can take. As it stands today, there is a maximum of £268,275 that you are able to take tax-free. That limit either remains or the government decides to slash it to £200,000 or even down to £150,000 in the future.

In fact, Wiz had also attracted interest from Google, and now cybersecurity is crucial. Wiz yields security attributes for data resting in the cloud—information storage for large corporations has sparked interest in this technology, to a high value, by Google and other big tech firms.

Wiz is hiring another 400 this year, so they’re growing—already very much in closed cooperation with Google, among others, from the top cloud companies. This deal may brand Wiz’s rapid growth and help generate new jobs in Israel and around the world.

The technology segment in Israel is the prime market for the economy. There are thousands of companies working to develop something new. Israeli techies do not lose the edge even in times of turbulence, when there are fights with Hamas and other groups. They want to keep their status as the global leaders in technology and innovation.

Now, if they do go on to change the rules, they may still make special arrangements for those who have saved a lot in their pensions. For people already planned to take a certain amount of tax-free cash from this, it will just not apply anymore.