Cash in the hand

Simoney Girard

While taking a fare from the airport to a conference, the taxi driver picked up on the fact that his passenger worked in the pensions industry. Without skipping a beat, he told him that his mate had just liberated his pension, and he would do it too.

He said: “I know that after charges and tax, I’ll get just £3000, but it’s money in the hand, innit gov?”

Our man from James Hay was shocked, even more so when he heard the man was 53 and on an old DC scheme worth £40,000.

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Before getting got out of the cab, he said: “Wait two years, take early retirement. You will get 25 per cent tax free as a lump-sum and the rest is your income in retirement.”

The taxi driver was very grateful, but still charged him a tenner.