The average retired household handed £7,400 to the taxman during the first year of pension freedom, amounting to almost a third (30%) of their annual income, according to data analysis by Prudential.
The data, taken from the Office for National Statistics, showed retirees' tax bills rose £400 on average in the 12 months to April 2016, meaning the Exchequer pocketed an extra £1.7bn. The total annual...
HL and Liberty SIPP slowest
Lifetime and annual allowances
'IFAs bore the brunt'
'Recovery or boom'