'Harsher' allowances hit a million 'pension dippers', finds Just Group

Holly Roach
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Lowe: Being subject to the MPAA reduces the options, adds to the complexity and increases the amount of paperwork
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Lowe: Being subject to the MPAA reduces the options, adds to the complexity and increases the amount of paperwork

More than one million people aged over 55 are now subject to harsher pension contribution limits as a result of using the pension freedom rules, Just Group research has found.

HM Revenue & Customs (HMRC) told the firm that an average of 70,000 people each quarter have taken a flexible payment for the first time from their pension since Freedom and Choice was introduced in April...

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