FCA pressed to highlight tax hit as savers cash out to put money in the bank

clock

Royal London has urged the Financial Conduct Authority (FCA) to increase awareness of the tax implications of cashing out a pension pot at retirement.

This would ensure people understood the potential benefits of keeping their cash in a pension rather than switching it into a less lucrative account, according to Royal London. Research from the...

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

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

'No justification' for general levy option 3 proposal

'No justification' for general levy option 3 proposal

Option 3 proposed imposing a £10,000 additional charge on smaller schemes

Holly Roach
clock 24 November 2023 • 1 min read
Co-op scheme bags £4bn buy-in with Rothesay

Co-op scheme bags £4bn buy-in with Rothesay

Mammoth deal secures the benefits for nearly 50,000 scheme members

Holly Roach
clock 24 November 2023 • 3 min read
Partner Insight: Which five forces are shaping the future of retirement?

Partner Insight: Which five forces are shaping the future of retirement?

From market volatility to the cost-of-living crisis; pension schemes are having to deal with a range of new challenges as the great moderation has come to an end. BlackRock’s Henry Odogwu, Penfold’s Chris Eastwood and PLSA’s Joe Dabrowski discuss the...

BlackRock
clock 24 November 2023 • 4 min read
Trustpilot