freedom and choice

Members of occupational pension schemes claimed £4.3bn in pensions tax relief in 2017/18, as total relief climbed £1.1bn.

Smaller schemes should be given more time to prepare data for the pensions dashboard while larger counterparts should be brought on earlier, this week's Pensions Buzz respondents say.

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 and Customs (HMRC) has taken over £400m too much in tax from savers accessing their pensions since the introduction of Freedom and Choice in 2015.

Thousands of savers taking tax-free lump sums ahead of retirement are at risk of a pensions shortfall in later life due to neglecting their remaining pot, Zurich has warned.

Capping the pension tax-free lump sum at £40,000 would raise £2bn a year for the government, new research by the Resolution Foundation suggests.

Pension drawdowns are becoming "increasingly common", according to Just Group's Stephen Lowe, as the latest HM Revenue & Customs (HMRC) figures show £2bn was withdrawn from pension schemes in the third quarter of 2018.

The UK must do more to address its ageing demographics, says Mercer, as its global pension index shows the country static in its rankings.

Pension freedoms could generate as much as £1.9bn a year in tax revenue for the next 10 years, according to research by the Pensions Policy Institute (PPI).

Just under 20% of firms know of one or more employees that have been victims of a pension scam, a Barnett Waddingham study has found.