Pension Panic As Savers Rush To Take 25% Tax-Free Cash Before Labour's Budget

[naomi24]

//Pension companies are being overwhelmed with calls and emails as the over-55s withdraw money from their pension plans in case Reeves curbs one of the most popular pension benefits all.//

 

https://www.express.co.uk/finance/personalfinance/1951679/Labour-Budget-pension-withdrawals-tax-free-cash-Rachel-Reeves-pension-savers-panic ; 

 

More screwing of the pensioners?  Perhaps they'll go back to stashing their money under the mattress.  Not a government that could be said to inspire confidence.

[sandyRoe]

"...in case..."

Humm.  The Express should be ashamed of itself frightening pensioners.

[naomi24]

How about the Guardian,  sandyRoe?

 

https://www.theguardian.com/money/article/2024/aug/26/rachel-reeves-raise-10bn-peducing-pension-tax-relief-fabian-society

[Old_Geezer]

Alternatively they could opt not to deplete their pension pot on retirement. Perhaps even choose not to retire for the next five odd years and see if any potential imminent legislation gets scrapped.