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People taking advantage of pensions freedom rules have withdrawn a total of £72.2bn from retirement funds since April 2015, with the first two quarters of 2023 seeing a pronounced surge in activity, according to analysis of latest HM Revenue & Customs (HMRC) figures.
The Financial Conduct Authority (FCA)'s investment pathways are working “as intended”, it has confirmed in a post-implementation review.
Around one in four savers could be at risk of falling for a potential pensions scam, industry research has found.
Jon Greer looks at the abolition of the LTA, which he says was not the 'open season' for pensions as first reported due to the cap on tax-free cash swiftly put in its place...
Planned increases to the lifetime allowance (LTA) and annual allowance (AA), widely predicted to be announced in tomorrow’s budget speech, are good news for savers but may fail to attract the recently retired back into work, commentators have said.