withdrawals

Lump sum pension withdrawals leap 94% during Covid-19 crisis

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Lump sum pension withdrawals leap 94% as households suffer income shocks from Covid-19 The Association of British Insurers compared September with April this year Those taking only tax-free lump sums increased by 55 per cent  Many households have been hit by job losses, pay cuts and furloughing  By Sadie Whitelocks for MailOnline and Press Association … Read more

Why didn’t Barclays stop 56 suspect withdrawals?

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Why didn’t Barclays stop 56 suspect withdrawals as thieves raided my late sister’s bank account for £18,000? By Amelia Murray For The Daily Mail Published: 22:12 GMT, 17 November 2020 | Updated: 22:12 GMT, 17 November 2020 Around 56 unauthorised cash withdrawals totalling more than £18,000 were made from my late sister’s Barclays account from … Read more

Savers told not to make unnecessary early withdrawals from pensions

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Beware the early pension tax trap: Savers told not to make unnecessary early withdrawals By Ben Wilkinson for the Daily Mail Published: 22:00 BST, 12 May 2020 | Updated: 00:15 BST, 13 May 2020 Savers are being warned not to make unnecessary early withdrawals from their pensions or risk triggering a costly tax trap. With … Read more

Pension withdrawals soar at start of tax year: Avoid these five pitfalls

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Many older people need to draw an income from their pension investments to cover everyday bills, notwithstanding the recent market falls. Tom Selby, a senior analyst at financial services firm AJ Bell, explains how first-timers and experienced investors can avoid unnecessary losses and big tax bills. Pension freedom: Beware making big income withdrawals from investments … Read more