A freedom of information request submitted by Aegon did not return an answer
Despite the high numbers, an FoI has found the number applying is dwindling
The SPP said the pensions tax system is complex and often misunderstood by savers
A settlement for the Sanofi Pension Scheme and a warning on HMRC tax proposals
Concern that taking a wide definition of ‘tax advice’ could inadvertently impact the pensions market
HM Revenue and Customs (HMRC) has revealed a 6% rise in the amount withdrawn flexibly this quarter versus the same period last year, and a 10% increase in the number of individuals using this freedom.
The GMP Equalisation Working Group has published further good practice guidance covering the tax issues relating to the equalisation of GMPs.
Savers withdrew £9.4bn flexibly from their retirement pots during 2020, data released by HM Revenue & Customs (HMRC) has shown.
The government must work with HM Revenue and Customs (HMRC) and the wider industry to clarify GMP equalisation uncertainties, Mercer says.
The Money and Pensions Service (Maps) will develop a ‘later-life checklist’ to help over-50s who have been affected by Covid-19 and need to plan for their financial future.