Constant speculation about annual changes to pension rules “hinders confidence” and long-term planning, according to Nucleus technical services director Andrew Tully.
Retirement confidence in the UK has fallen to a record low, but the most surprising driver is not inflation, rising bills or lower savings. Instead, political instability and constant speculation about pension policy have become the factors for the fall. Speaking to Professional Adviser following the publication of Nucleus' third annual UK Retirement Confidence Index last week (12 November), Tully said rumours around tax-free cash, inheritance tax (IHT) on pensions and the future of the triple lock are now doing more damage to long-term planning than financial pressures alone. "There'...
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