Property News · August 15, 2016

Retirees prove more prudent than expected after pension freedoms


A year after compulsory annuities were abolished, pensioners are withdrawing around 4% a year from their potsBritish workers reaching retirement have proved to be more prudent than many believed they would be after receiving new pensions freedoms a year ago.The pensions minister at the time, Steve Webb, said pensioners could buy Lamborghinis should they wish to do so after the rules forcing people to buy annuities were swept away in April 2015. This fanned fears that pensioners might blow their cash on cruises or pour it all into buy-to-let properties. Continue reading…

Source : theguardian.com
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