'Harsher' allowances hit a million 'pension dippers', finds Just Group

Holly Roach
clock • 2 min read

More than one million people aged over 55 are now subject to harsher pension contribution limits as a result of using the pension freedom rules, Just Group research has found.

HM Revenue & Customs (HMRC) told the firm that an average of 70,000 people each quarter have taken a flexible payment for the first time from their pension since Freedom and Choice was introduced i...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

'Decisive action' needed to address £100,000 gender pensions gap

'Decisive action' needed to address £100,000 gender pensions gap

20th Scottish Widows ‘Women and Retirement report’ addresses progress on gender pensions gap

Jasmine Urquhart
clock 13 November 2024 • 4 min read
Pensions dashboards could lead to more than £2bn in lost savings by 2030

Pensions dashboards could lead to more than £2bn in lost savings by 2030

Research finds two-fifths of savers likely to use dashboards to carry out a pension transfer

Martin Richmond
clock 13 November 2024 • 3 min read
Will VfM reforms deliver what the DC industry needs?

Will VfM reforms deliver what the DC industry needs?

Jacqui Reid says there are two significant problems with the FCA’s proposed approach

Jacqui Reid
clock 13 November 2024 • 4 min read
Trustpilot