British pensions have turned into a high stakes game of blackjack. You can take a quarter of your accumulated pot as a tax-free cash sum, but a subtle change in the rules has increased the risk that any new government might take stronger action against this tax break. So, instead of drawing this down at leisure over your (hopefully) long retirement it might pay to take action sooner rather than later.

Change is one of the few certainties in the pensions game and its tax-advantaged status is very much in the political crosshairs. If you stick, you take the tax benefits that have already accumulated but forgo the chance to “win” more. The twist is that, if you press on, a rule change might deprive you of some, or all, of this valuable entitlement.

QOSHE - Death, Taxes and Pension Levies - a UK Mystery - Marcus Ashworth
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Death, Taxes and Pension Levies - a UK Mystery

3 0
30.10.2023

British pensions have turned into a high stakes game of blackjack. You can take a quarter of your accumulated pot as a tax-free cash sum, but a subtle change in the rules has increased the........

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