Pension pots can be accessed from the age of 55 under current rules, while state pensions cannot be received until a person reaches 66 at the earliest. Of course, many people are unlikely to actually retire at 55, meaning dipping into a pension early could be detrimental if a person ends up needing additional income down the line.
Pension: Tax relief action ‘must be taken’ as HM Treasury makes plans
They broke down the impact of making withdrawals, even for a person just looking to take their tax-free cash.The following calculations highlight what could happen to […]
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