Retirement: Tax-free lump sums from pensions to be capped at £36,000?

Retirement planA think-tank has called on the Government to make radical changes to the UK pension system. Before every Budget and Autumn Statement rumours start to circulate that the Government of the day will cut the tax-free lump sum or reduce tax-relief on pensions. To date successive Chancellors have steered clear of these measures, preferring more convoluted approaches to reducing the cost of pensions. However, in its ‘Tax-relief for pension savings in the UK’ report, the Pensions Policy Institute (PPI) has ...