Pensions Bill: 'Revolutionary changes' heap burdens on industry and savers

The industry reacts

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Industry figures have warned that the Taxation of Pensions Bill published yesterday will put more responsibility on savers and ultimately increase the burden on providers.

The bill will overhaul the treatment of the tax-free lump sums (PP Online, 14 October). Under current rules people can take 25% of pension savings as a tax-free lump sum from the age of 55. But the...

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