Work and Pensions Committee – Accessing pension savings
LITRG submitted evidence to the Work and Pensions Committee review ‘Protecting pension savers: five years on from the Pension Freedoms: Accessing pension savings’.
Pension freedoms since April 2015 have allowed people to have flexible access to their pensions, but often they do not understand the tax and related benefits impacts.
As a result, they make costly mistakes such as triggering unexpected tax liabilities or losing benefits. LITRG’s response to this call for evidence concentrates on how such unfortunate situations might be avoided.
The full submission can be found here.