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 …

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. …

Pension cold calling ban to start in June

Pension cold calling to be banned

Pension cold-calling will be banned from June after a new clause was inserted in the Finance Guidance and Claims Bill currently going through Parliament. There is also an amendment to clause 19 of the bill which relates to pension guidance.