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Tax trap -

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Wondered why Gov, in this age of growing elderly care demand, was allowing the grumpies to cash in their pension pots to blow it.  But according to TV news, any lump sum will be taxed, giving the Gov a bit of a short term windfall. No doubt, further down the line, having blown it, they will be relying on benefits - if they still exist.

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Seems a strange idea from the government to allow people to possibly squander their pensions considering all the persuasion that took place to get people to plan for their retirement.

 

I believe a whole new industry has now grown up to advise newly wealthy pension pot recipients how to dispose of their windfalls.

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Don't i know it. So now i get calls from PPI, accident claims,solar panles, new boilers, double glazing!,PC fault finders and pension release people. Thank god I have an answering machine at home. now all i have top do is figure out how to stop the texts on my mobiles and i will have a peacful day.

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