Personal Pension  

Broadstone calls for one-off liberation check

The pensions director for Broadstone said: “What trustees want is the reassurance that if they take HM Revenue and Customs’ information and rely on it, will they be protected if that information was not correct?”

He said HMRC was starting to take positive steps to address the problem of pension liberation schemes but did not think the measures were enough.

Mr Newman added: “The costs of verifying and investigating these schemes is not insignificant but if the process can be simplified to a one-off check with HMRC this would greatly ease the burden on trustees and provide reassurance that they have acted appropriately.”

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