Pension Freedoms
6,000 Brits trigger MPAA restrictions every week
148,000 accessed their pension in the first half of 2022
Rise in full pension withdrawals triggers tax warning
Over 10,000 pots were accessed without advice in the last financial year
Pension freedoms ‘a failure’ without guidance and advice
Savers deemed retirement system a ‘minefield’ as they struggle to understand how it works
HMRC refunds £835m in overpaid tax on pension withdrawals
But advisory firm believes total is likely to be in ‘excess of £1bn’
UK politicians to scrutinise adequacy of pension savings
Workers must be helped ‘to ensure they do not miss out later on in life’