Create Flexible Pensions to improve TakeUp

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Petition Action

Create Flexible Pensions to improve TakeUp

Additional Information

Currently take up of pensions is poor, as younger citizens are more concerned with having savings available when made unemployed or redundant.

Allow flexibility so that pension funds may be drawn down by the unemployed and additional payments made to the level withdrawn afterwards without penalty.
Such funds should not be taken into consideration when calculating benefit levels, so as to give an additional incentive over savings (which lead to discounted benefits).

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