Tax-free lump sum

Platform calls for 'a pension tax lock' to deter Budget speculation

Investment platform AJ Bell has called on Chancellor John Healey to commit to a pension tax lock, with a focus on tax-free cash and tax relief.
Most advisers fielding calls on tax-free cash ahead of Budget

More than nine in ten advisers (92%) have received calls from clients about taking tax-free cash and accessing pension savings earlier than planned ahead of the Budget, according to a new report.
40% of over 55s have no plan for tax-free sum

Nearly 40% of over 55s (38%) have no plan in place for the tax-free cash they can get from their pension.
Surge in DC lump sum withdrawals around Budget

There were surges in lump sum withdrawals from private sector DC pensions in Autumn 2024 and 2025 as savers acted in anticipation of rumoured Budget changes.
FCA issues pension lump sum caution

The FCA has issued a reminder today to firms that cancellation rights do not exist for pension commencement lump sums (PCLS).
Pension savers rush to take 25% tax-free cash

Pension savers rushed to withdraw their 25% tax-free cash in the 2024/25 financial year, according to new FCA data.
Reeves reportedly looking at cutting tax-free pension sum

Chancellor Rachel Reeves is reportedly considering cutting the tax-free pension commencement lump sum in a bid to save more than £2bn a year for the Treasury.