LITRG responds to accessing pension savings review

Released 12 July 2021

The Low Incomes Tax Reform Group (LITRG) has published its response to the Work and Pensions Committee review Protecting pension savers: five years on from the Pension Freedoms: Accessing pension savings.

The LITRG says that pension freedoms since April 2015 have allowed people to have flexible access to their pensions, but often they do not understand the tax and related benefits impacts. As a result, they make costly mistakes such as triggering unexpected tax liabilities or losing benefits. The Group’s response to the call for evidence concentrates on how such unfortunate situations might be avoided.

View the LITRG response.

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