Advisers have warned a significant number of their drawdown clients will be stuck in poor value pension schemes for years to avoid a 55% tax penalty the HMRC assured providers "wouldn't be an issue".
Providers and advisers have both slammed the “grossly unfair unintended consequence” of rule changes following last month’s retirement age rise from 50 to 55. It means those aged 50-54 in unsecured...
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