Pension age changes will go ahead – and they could impact your retirement plans | Personal Finance | Finance


As such, savers should always be wary if they are told they could release funds from their pension before the age of 55.

It could mean they are being targeted by a scam, which could have devastating consequences for retirement.

Individuals could lose their money and face a tax charge of up to 55 percent of the amount taken out or transferred.

They may also face further charges from their provider, so it is important to think carefully. 



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