Reported 1 day ago
With impending Budget announcements, many savers are withdrawing funds from their pension pots fearing tax increases aimed at wealthier individuals. The government’s suggestion of imposing higher contributions from those with 'broadest shoulders' has fueled anxiety, particularly concerning potential reductions in tax-free lump sums. Financial advisers report a surge in inquiries as clients seek urgent clarity, leading some to act hastily – a move experts warn could backfire. The uncertainty has drawn parallels to previous tax policy changes that shook savers' confidence.
Source: YAHOO