In his 2015 Spring Budget, then-chancellor George Osborne introduced sweeping changes to the way that pensions are taxed. The new rules have led to people taking a variety of different choices when investing their nest eggs – but have also meant that the over-55s have become an attractive target for fraudsters.
Prior to April 2015, when most people with a defined contribution pension reached retirement age the only option available was to buy a financial product called an annuity, which involved using their pension savings to purchase a guaranteed income for life. These products sometimes came with special conditions or […]
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