{"id":11072,"date":"2015-09-17T06:52:44","date_gmt":"2015-09-16T23:52:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hundreds-of-thousands-withdraw-cash-from-pension-pots-after-rules-relaxation\/"},"modified":"2016-04-21T12:38:26","modified_gmt":"2016-04-21T05:38:26","slug":"hundreds-of-thousands-withdraw-cash-from-pension-pots-after-rules-relaxation","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hundreds-of-thousands-withdraw-cash-from-pension-pots-after-rules-relaxation\/","title":{"rendered":"Hundreds of thousands withdraw cash from pension pots after rules relaxation"},"content":{"rendered":"


\nMore than 200,000 have taken out cash since George Osborne introduced reforms in April, while the sale of annuities has plummetedMore than 200,000 people have emptied their pension pot or withdrawn cash from it after the relaxation of rules on accessing retirement savings this year.The first comprehensive independent analysis shows that 204,581 people have taken advantage of the pension freedoms bought in by George Osborne on 6 April that give those aged over 55 unfettered access to their money for the first time. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Hundreds of thousands withdraw cash from pension pots after rules relaxation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

More than 200,000 have taken out cash since George Osborne introduced reforms in April, while...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-11072","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2SA","jetpack-related-posts":[{"id":1969,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rip-off-pension-exit-fees-will-be-capped-says-george-osborne\/","url_meta":{"origin":11072,"position":0},"title":"'Rip-off' pension exit fees will be capped, says George Osborne","date":"January 19, 2016","format":false,"excerpt":"\r Government announces plan for financial regulator to cap \u2018prohibitive\u2019 charges levied on savers who wish to cash in pension potsThe government has announced plans to cap the \u201crip-off\u201d exit charges levied on savers who opt to cash in their pension pots as a result of the pension freedoms introduced\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5374,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/4bn-raid-on-pension-savings-likely-says-former-osborne-adviser\/","url_meta":{"origin":11072,"position":1},"title":"\u00a34bn raid on pension savings likely, says former Osborne adviser","date":"February 22, 2016","format":false,"excerpt":"\r Steve Webb says tax-free lump sum \u2018could be on the brink of extinction without anyone noticing\u2019A former adviser to George Osborne has said the chancellor is likely to mount a \u00a34bn raid on pension savings by scrapping tax-free allowances on lump sums in a bid to save more cash\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21256,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pension-freedom-withdrawals-accelerate-to-top-6bn\/","url_meta":{"origin":11072,"position":2},"title":"Pension freedom withdrawals accelerate to top \u00a36bn","date":"July 29, 2016","format":false,"excerpt":"\r More than 770,000 over-55s have taken an average of \u00a311,000 each out of their pots, raising concern many may run out of cashMore than 770,000 over-55s have taken money out of their pension pots following the new freedoms introduced by George Osborne, according to HMRC figures.The announcement prompted concern\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6914,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pension-pots-can-be-used-to-buy-lamborghinis-says-minister\/","url_meta":{"origin":11072,"position":3},"title":"Pension pots 'can be used to buy Lamborghinis', says minister","date":"March 21, 2014","format":false,"excerpt":"\r Steve Webb says government doesn't mind if wealthy people near retirement blow savings on sports cars, in budget defenceAffluent people approaching retirement should be free to blow their pension pot on a Lamborghini even if they end up relying on the state for support, a minister said on Thursday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14464,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pension-exit-charges-to-be-capped-at-1-under-fca-proposals\/","url_meta":{"origin":11072,"position":4},"title":"Pension exit charges to be capped at 1% under FCA proposals","date":"May 26, 2016","format":false,"excerpt":"\r Regulator wants to limit charges for people cashing in pots before retirement age, and ban exit fees in future pension contractsThe Financial Conduct Authority has proposed a 1% cap on exit charges for people cashing in their pensions before retirement age along with a ban on exit fees in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tax-trap-fears-grow-after-osborne-pensions-shakeup\/","url_meta":{"origin":11072,"position":5},"title":"Tax trap fears grow after Osborne pensions shakeup","date":"August 7, 2014","format":false,"excerpt":"\r Data shows pensioners may pay \u00a33.6bn more in tax after raiding pension pots as critics warn of 'one-man mis-selling scandal'Pensioners stand to lose \u00a33.6bn in additional tax payments from next April as concerns grow that the freedom from annuities unveiled by George Osborne as the centrepiece of the 2014\u2026","rel":"","context":"In "Property 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