Government changes to retirement rules will not stop anytime soon as pension provision and tax relief continue to take up an increasing share of public spending, Aberdeen Standard Investments' Gregg McClymont has said.
Speaking at a DISCUS debate on managing income in a post-pension freedom world, the Aberdeen Standard Investments head of retirement discussed why the government continued to alter retirement rules and why more change was to be expected. "I do not think there is any possibility the changes to retirement rules will stop anytime soon. Freedoms are beginning, not the end." said McClymont (pictured). "Pensions cost a significant amount of money - that is why government keeps tinkering, seeking savings." Of the £750bn annual government budget, a third - £250bn - is spent on social security...
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