Concerns Rise as Pension Savers Withdraw Funds Amid Tax-Free Limit Speculation
Pension savers are increasingly withdrawing lump sums from their retirement accounts amidst growing concerns that Chancellor Rachel Reeves may significantly reduce the tax-free withdrawal limit. Financial advisory and wealth management firms have reported a surge in inquiries from clients as the budget announcement on October 30 approaches. Bestinvest, a prominent wealth manager, noted a doubling…