HMRC forced to repay £38 million on pensions

HMRC forced to repay £38 million on pensions

Her Majesty’s Revenue & Customs (HMRC) has been forced to repay £38 million for excess tax levied on pension withdrawals in just three months. Data released by HMRC shows that there have been 18,353 successful applications for overpaid tax between July 1st and September 20th and the average refund was £2,000. Total reclaimed This is …

Is your pension part of the ‘lost’ £20 billion?

Is your pension part of the ‘lost’ £20 billion?

Could you be losing out on £13,000 in lost pension contributions – part of the £20 billion sitting unclaimed by savers across the country? The Association of British Insurers (ABI) estimates that around 1.6 million pension pots remain unclaimed, but the number could be even higher because their researchers didn’t look into public service pensions …

Pensioners life savings being shot down in ‘Wild West’

Pensioners life savings being shot down in ‘Wild West’

The life savings of thousands of British pensioners are being shot down in a ‘Wild West’ scenario claims former pensions minister, Baroness Ros Altmann. She says that savers are losing hundreds of thousands of pounds because they have been ‘abandoned to a Wild West of pension rules’ which have exposed them to unscrupulous financial advisors. …