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.”
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