Tax-free lump sum

This week readers share their thoughts on how politicians can make sure people get a decent income in retirement.

The industry is divided over whether there should be a cap on how much money defined contribution savers should be able to take as a tax-free lump sum, PP research finds.

The idea of doing away with tax-free lump sums was roundly rejected by Buzz respondents.

This week Buzz respondents defended tax-free lump sums fiercely.

The latest rumour circulating as Budget 2013 draws near is that George Osborne has his beady eye set on pension commencement lump sums.

As speculation over the budget intensifies, PP brings you the latest hints, tips and rumours.

With Budget 2013 just around the corner, Barnett Waddingham consultant Malcolm McLean lists the top ten announcements he would like to see.

Michael Johnson has reignited calls for limiting pensions tax relief, saying the annual £29bn saved by the Treasury from tax relief could increase the state pension by 60%.

People with several small occupational pensions should be able to group them together for trivial commutation, Hargreaves Lansdown head of pensions research Tom McPhail says.

The government has launched a public consultation on giving people under-55 early access to their pension.