Private pensions (taken as lump sums) should be TOTALLY TAX FREE

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Private pensions (taken as lump sums) should be TOTALLY TAX FREE

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I call on the government to pass legislation to permit private pensions to be taken as a lump sum in their entirety and to be TOTALLY TAX FREE, albeit perhaps up to a maximum sum. It is discriminatory for one to be able to invest the whole lump sum in an annuity (with all it's disadvantages to the pensioner and their family) but not be available in whole to invest as one wishes. The changes George Osborne has made are a start but at the end of the day (whatever pension choice one makes) the new arrangements benefit the taxman, investment companies and the like more than any pensioner. At a time when the government wishes us to look after ourselves the choices are still too limited and biased against the pensioner.

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