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Reduce restrictions on access to private pensions during coronavirus

Submitted by Philip Mark Grisedale on Wednesday 18th March 2020

Published on Wednesday 8th April 2020

Current status: Closed

Closed: Thursday 8th October 2020

Signatures: 46

Relevant Departments

Tagged with

6 Months ~ 6MONTHS ~ Access ~ Covid-19 ~ Money ~ Pensions ~ Tax ~ US

Petition Action

Reduce restrictions on access to private pensions during coronavirus

Petition Details

Remove the 55 year old age restriction on accessing private pension lump sums.

Additional Information

Increase the amount you can claim tax-free from 25% to 35%.
Restrict this for a fixed duration of time during a nationwide state emergency. (Say periods 3-6 months under review)
This would allow families access to money tied up in savings, not ideal (who really wants to use their pension pot) but in a world where a lot of families are just about managing this may well take the edge of things and help ease the burden and save us from losing all the things we have worked hard to provide.


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18.207.102.38 Thu, 29 Oct 2020 19:17:26 +0000