rumours abound that the tax haul from pensions withdrawls could be quite substantial.
Vin,
Yes, but taxed at someone's marginal rate and not the punitive high rates we have seen. I imagine that the tax revenue will be higher because of the novelty value but just trusting savers NOT to blow an entire pot on a mid life crisis Porsche will be a challenge. I can see this one not lasting for ever..
PS: Putting it like that, yes, put in family perspective, 38k per annum will be very good news for you. You just watch for the Inheritance Tax threshold to plummet in a few years to make up for it..