The government has confirmed it will implement the reduction of the money purchase annual allowance (MPAA), originally due to take effect in April, retrospectively.
In the second version of the 2017 Finance Bill, out on Friday, the Treasury said savers who have accessed their pension will see their annual tax-free allowance cut from £10,000 to £4,000 for the 2017/18...
And other investors
Consultation closes on 30 October
Sent to retirement savers at age 50
Expanding the 'regulatory perimeter'
Defined contribution (DC) drawdown providers will have to offer non-advised consumers investment pathways from August 2020, the Financial Conduct Authority (FCA) has said.
The Financial Conduct Authority (FCA) is currently investigating funds worth more than £15bn that have holdings in the collapsed Woodford Equity Income fund (WEIF) as it seeks to prevent a liquidity crisis.
Following M&G suspension
No change in the 'near term'
UK goes to the polls on 12 December