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Give HMRC teeth to clamp down on pension liberation

Give HMRC teeth to clamp down on pension liberation

HM Revenue & Customs (HMRC) seems unable to stem the tide of pension liberation schemes, but if it is serious about getting a handle on this issue, it could do worse than look to the way the Financial Conduct Authority (FCA) operates.

Legal & General (L&G) pensions strategy director Adrian Boulding (pictured) says 5% of L&G pension transfer requests are people trying to liberate their pension.

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