Work and Pensions Select Committee inquiry into pension freedom guidance and advice
The LITRG welcome the opportunity to give evidence to the inquiry into the guidance and advice on offer to people navigating the new pensions system. We urge HMRC to ensure that their staff are fully aware of the tax issues surrounding the new flexibility and suggest they should consider establishing a specialist team to deal with people’s enquiries and take the necessary action promptly.
We believe that Pension Wise should review the guidance which it offers with the aim of ensuring that it is tailored to each individual's circumstances and should also improve the visibility and accessibility of its services.
The LITRG response can be found here.