Watch out for these pension scams

Just over a month ago, chancellor George Osborne announced that anyone with a pension would soon be able to cash in the lot on retirement.

He didn’t actually go into much detail at the time, but anyone who read the small print would soon have noticed that these withdrawals would be taxed at the pensioner’s marginal income tax rate.

So, anyone taking out a substantial sum would end up paying the highest current rate – 45% – on a large percentage of their stash. That’s something very few of us would like to do.

Unfortunately, the second part of the [...]

MoneyWeek magazine

Latest issue:

Magazine cover
Paying by mobile

Why your phone will replace your wallet

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.