Beware 'seductive' tax-free lump sums

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SCHEME members should beware "seductive" offers to take tax-free lump sums from their funds, The Pensions Advisory Service claims.

A-Day’s tax simplification changes allow final salary scheme members to draw 25pc of the value of their fund as a lump sum. But TPAS warns the commutation rate means members lose out on future ...

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