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“One has to question the sense in allowing unfettered access to the 25% lump sum amount prior to retirement” |
Savings worth their salt
Every now and again a new idea is generated to get the UK saving for retirement and to close the savings gap. There is a need for such ideas but clearly, few have been particularly successful to date.
The arrival of a new government often generates new hope in this respect and the changes undertaken by the coalition government since it came to power in June – including accelerating the state pension age increase, abolishing the age 75 rule, and recognising the need to improve the process around open market options (OMO) – have heralded fresh anticipation of reform of the pension savings market.