Pension stimulus plan

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Pension stimulus plan

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Stimulating economic growth is the number 1 national priority. The standard toolkit has been deployed, but more needs to be done. UK pension assets are over £2 trillion. Consumer spending can be stimulated through a rule change that allows pension scheme members to cash out a small percentage (5-10%) of their pension pot at any time before retirement, tax free. Pensions can be considered deferred pay, we can release these funds early to raise consumer confidence and boost growth now. The growth created by this stimulus now will more than make up for the temporary reduction in pension fund assets.

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