The age 55 income drawdown trap
HM Revenue & Customs has confirmed that people under age 55 in unsecured pension (also known as income drawdown) will face an unauthorised payment charge if they purchase an annuity or switch to another provider.
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HM Revenue & Customs has confirmed that people under age 55 in unsecured pension (also known as income drawdown) will face an unauthorised payment charge if they purchase an annuity or switch to another provider.
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