Nearly a million savers could be paying more tax on their pension than required, simply because they have been given the wrong tax code, Royal London has claimed.
The insurer estimated around 800,000 people under the state pension may be being taxed despite their income being below the personal allowance. The problem is particularly apparent where people wer...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date