PENSIONS experts are calling on HM Revenue and Customs to raise the Money Purchase Annual Allowance from £4,000 to £10,000 for over 55s because they fear that this age group may have scuppered their retirement plans. People in this age group have been withdrawing money to tide them over during the pandemic, and there's concern this has been done without fully understanding the consequences because of the limit on pension contributions.
Source: Daily Express :: Finance Feed https://ift.tt/3hTyGlU
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