Triple tax raid on your pension

Paul Wilcox, founder and Chairman of the WAY Group

Paul Wilcox, founder and Chairman of the WAY Group, comments in the Express on reports of the tax take as a result of pension freedoms:

Pension freedoms last April allowed people to take their pension pots as a lump sum from 55.

These have provided an estimated £1.2billion windfall for the Treasury. Paul Wilcox, of The WAY Group, added: “So-called pension freedoms are in danger of becoming a distant memory as the Government continues its cynical raid on the retirement savings of millions of people.

“We are encouraged, hounded really, to save into these schemes – only to find George Osborne is helping himself.”

Read the full article.