Call me cynical if you like but this idea of Osbornes to let people get at their pension pots with very little restriction is a very shortsighted policy. I think it had been suggested so that it will bump up the recovery in income tax, some people will then spend it rather than think about the future; both will make the UK balance sheet look good for a short time. There is already a way that you can get cash out of additional pension funds but this can only be done if you demonstrate that you have sufficient retirement income from other providers, it seems that these new proposals do not have these safeguards in place. It will be a disaster for some peoples living standards in the future.
Posted on: Wed, 19 Mar 2014 16:52:09 +0000
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