Letter to the editor

I shall be saying no to all clients wanting to encash their pension pots, as I consider that people who work hard should not be subject to additional tax charges on money they have earned and already paid their tax and NI on.

I shall not be getting involved in any DB-to-DC transfer schemes, nor will I be referring any on to a specialist either. I do not want to see my PII insurance premium keep ballooning the same way as the FCA fees and levies.

I have advised numerous clients regarding enhanced annuities, and have spent time researching the market for the best deals. Anyone considering unpicking perfectly sound financial advice wants their head examining.

If Mr Osborne and his friends want to help the hard-pressed and fed-up working families in this country he needs to focus on getting the deficit down and reducing the stupid amount of taxation we are all subject to.

He also needs to think through his policy decisions more carefully and not look for vote-catching schemes such as cashing in your pension pots, unpicking annuities, and occupational transfers.

The upcoming rise in our fees and levies average 8 per cent or more this year is an absolute disgrace, and I shall be seeing my MP regarding this matter as I am tired of all the excuses the regulator comes up with.

Martyn Quantick

Independent Financial Adviser, Quantick Financial Services, Nottingham