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Pension tax-free lump sum will 'not be cut'

Pension tax-free lump sum will 'not be cut'

Pensions minister Steve Webb has said the 25% tax free cash lump sum from pensions will not be scrapped.

The government has recently faced calls to abolish the 25% tax free cash lump sum to make up for lost taxes resulting from this year's Budget announcement, that post retirement pension fund withdrawals would be taxed at a person's marginal rate rather than 55%.

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