Pension penalties on people's 75th birthdays and divorce reform - here's our weekly heads-up on the financial stories that may have caught your clients' attention over the weekend …
Happy 75th birthday: the taxman's brought you an extra charge A generation of savers born after the second world war risk sleepwalking into a pensions trap that could cost them thousands of pounds, the Sunday Times reports. As many as 1.8 million people will reach the age of 75 over the next three years — equivalent to nearly 1,700 a day — according to analysis by Hargreaves Lansdown, which is particularly interesting because a raft of tax charges applies to pensions when savers turn 75. The Sunday Times urges anyone approaching their 75th birthday to check their pension policies b...
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