HM Treasury should scrap or limit tax on pension withdrawals if the funds are to be used for care related purposes – including if they are to be used for an immediate needs annuity (INA) – the Association of British Insurers (ABI) says.
In its Prepare for Care report - published yesterday (9 February) - the trade body argued the current taxation rules for pensions withdrawals, particularly for larger withdrawals which can be taxed...
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
