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Parents and grandparents who gift money to their grown-up children and grandchildren risk compromising their own standard of living by being too generous, according to a new study by Investec Wealth & Investment.
The Association of British Insurers has revealed that around 80% of cash lump sum withdrawals were made by people who had not reached 65 years of age.
Standard Life is urging the Government to introduce an incentive-led pensions regime rather than one based on the current system of tax relief.
Overhauling the system of pension taxation “risks destroying the foundation of a system that works,” warns Barnett Waddingham
As auto-enrolment reaches its third anniversary, NEST has reported that there are now over 5 million workers enrolled and up to a further 5 million workers set to be enrolled.
The FCA is to review its pension rules post the pension reforms to address the, “risks and challenges faced by consumers in the new retirement market.”
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