Policy Statements and Initiatives
HMT: Mark Hoban, Financial Secretary to the Treasury, has published the Government’s response to the call for evidence on early access to pension savings. Currently, individuals can only access savings in a registered pension scheme from age 55 at the earliest (except in cases of serious ill-health or other limited circumstances.)
Following consideration of the responses received, the Government has concluded that early access to pension savings should not be considered at the present time. The Government will announce further details on the reform to trivial commutation rules for small personal pension pots in the autumn.