Pension problems - BMW F800 Riders Forum & Registry



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  1. #1
    Thumper710's Avatar
    Points: 6,130, Level: 53

    Real Name
    John
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    Cotswolds, SW England
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    Motorcycle
    '13 F800 ST
    I have been wondering why our present "government" we're so keen to unlock pensions, plus they did it unopposed and the whole thing just slid through until it became law last week

    Hargreaves Lansdown (stock brokers) asked George Osborne what the likely tax implications were for anyone emptying their pension fund, he wouldn't answer but eventually HM Treasury came up with a Press statement saying that anyone doing so would lose 40% in tax

    They also added that they were expecting a "windfall" of £1/2bn for 2015/16 and a full £1bn for 2016/17 from people who had erroneously expected the money to be free of tax, it already having been taxed as part of your income

    So when polling day comes around next month remember that the Tories, Lib Dems and Labour all allowed this to happen, if not actually encouraging it
    Last edited by Thumper710; 05-03-15 at 12:48 PM.

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