Steve Webb

Over £30bn has been withdrawn from pension pots since Freedom and Choice was introduced in 2015 for those aged over 55, according to latest data from HM Revenue and Customs (HMRC).

With the spectre of Brexit looming over parliament, Jonathan Stapleton has some scepticism that the pension schemes bill will be enacted any time soon.

The Office of Tax Simplification (OTS) has called on the government to review its “complicated” pension tax measures and simplify engagement with the system.

There needs to be wider access to partial transfers out of defined benefit (DB) schemes, according to a joint paper published by Royal London and Lane Clark & Peacock (LCP).

Pension transfers have passed the £60bn mark as more than a third of a million people access their defined benefit (DB) pots, a Freedom of Information (FOI) request has revealed.

It is time to reconsider this potential solution to the plethora of fragmented pots, says Sir Steve Webb.

HM Revenue and Customs (HMRC) does not know how many people it has fined for breaching pension tax allowance rules, a Freedom of Information request has revealed.

Guy Opperman has admitted incorrect state pension forecasts have been issued for a third of a million people since 2016 with defined benefit (DB) members with "complex" work histories facing a "significant problem".

An estimated 1.75 million people are missing out on £60m in tax relief on their pension contributions in 2019/20, as the net-pay anomaly continues, Royal London estimates.

Steve Webb says the sooner government as a whole, and HMRC in particular, has the bandwidth to return to the domestic agenda, the better it will be