GOVERNMENT plans for more flexible retirement rules suffered a humiliating setback in the Court of A...
GOVERNMENT plans for more flexible retirement rules suffered a humiliating setback in the Court of Appeal yesterday, says the Daily Telegraph. The court supported the Inland Revenue's right to claw back tax-free cash paid to a man who took his pension eight years ago and then returned to work for the same company. Any prospect that the tax-free lump sum - which can equal a quarter of the total pension fund or a multiple of final salary - could be retrospectively subject to tax will deter people from continuing to work in retirement. THE FINANCIAL SERVICES Authority was urged ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes