One in ten (10%) of those planning to retire this year expect to withdraw their entire pension savings as one lump sum, according to research by Prudential.
The research also suggested a fifth (20%) of people retiring this year would risk avoidable tax bills by taking out more than the tax-free 25% limit on withdrawals. The study found such people were...
Lasting power of attorney
Three risk profiles
Caused by falling oil price
Roger Marsden takes over on interim basis
Will face 'appropriate action'