Submitted on Tuesday 31st March 2020
Rejected on Friday 24th April 2020
Current status: Rejected
Rejection code: duplicate (see below for details)
Allow up to 10% Tax Free withdrawals from UK Pension Funds for all workers
To allow UK workers under the age of 55 to withdraw up to 10% of their existing Pension funds to overcome the economic hardship and enable cash to be put back into the economy. Once this cash has been withdrawn an equivalent amount should be added to the Tax Free allowance for the next 3 Tax Years.
Because without liquidity all spending will grind to a halt, unemployment will then increase further compounding the problem until eventually everyone will be unemployed. Many higher earners are facing unemployment or unpaid leave and the potential for mortgage and loan defaults and yet have enough money invested in Pension Plans which they are unable to access due to their age.
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The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
You may wish to sign this petition calling for the same action: petition.parliament.uk/petitions/305886
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