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UK pushes ahead with £500 tax free pension advice allowance

UK pushes ahead with £500 tax free pension advice allowance

The UK Treasury has set out plans to allow savers to take out £500 ($654, €586) from their retirement pots tax free to help pay for financial advice in a bid to plug the 'advice gap' following the pension freedoms. The UK government first suggested the proposal back in March during the annual budget, based on recommendations by the Treasury and Financial Conduct Authority's (FCA) joint Financial Advice Market Review (FAMR). Please link to International Adviser to read the full article by Monira Matin.

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