Even Pensioners aren’t safe from the tax mans grip….

A new article by the watchdog behemoths WHICH has just uncovered some startling facts about the pension freedom scheme:

The pension savings that are being taken out early because of the freedom schemes are being invested in really poor-paying cash savings accounts…
Most people who’re taking their pensions out early are taking the first plan they’re given from their pension scheme providers and not shopping around for the best deal…
The FCA is getting worried that people are choosing their ‘drawdown’ without being advised…
Now, worryingly, WHICH have ALSO found pensioners could also be overpaying tax on their pensions and failing to reclaim money they’re owed!

More woes pensioners don’t need!

We can’t help with sorting out drawdowns or investing choices, we can do something about the overpaying tax situation.

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