According to the data from the Financial Conduct Authority (FCA), the total number of customers that took all their pension pot as cash fell 42% during the last quarter of 2015. The Financial Conduct Authority recognized the general fall in access to pensions after a sharp fall following the pension freedoms. The number of individuals who preferred a full withdrawal …
Chancellor under pressure to scrap 25% tax free lump sum
Chancellor George Osborne is facing increasing pressure to scrap the 25% tax-free lump sum people can take out of the pension pots ahead of next month’s Budget. Currently people can access 25% of their pension pots tax-free in a single lump sum when they reach 55. Think tank the Institute of Economic Affairs recently proposed the tax-free lump sum should …
Top 10 dream retirement destinations
The 10 places Brits most want to retire to. Is it a good idea? Where would you like to live out your golden years of retirement? Are you perfectly content with the drizzle, hassle, and complaints you have enjoyed during your working life in the UK? Or would you rather set out for pastures new? If you’ve had enough of …