I don't think I'm speaking out of turn when I say this government is wilfully playing fast and loose with people's futures.
It is a false largesse to give people greater access to the money in their pensions. It's both foolish and a cynical tax grab. Once saner heads prevail I'm forecasting a U-turn. It's clear government only half understands pensions otherwise why reduce income drawdown to 100% of GAD one year, raising it back up to 120% the next, before swiftly increasing it to 150% before the ink's dried on the last change? Allowing income withdrawal at a rate significantly greater than the growth in the underlying funds is the wrong way to solve the retirement income problem. But for now it is perhaps...
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