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Older Brits warned of 'big' retirement cost as withdrawals cause major tax bills

Many Brits approaching retirement age are facing hefty tax bills after withdrawing large sums from their pension pots, often without consulting advisors over the potential tax implications. Standard Life's analysis reveals that 221 people withdrew pots of £250,000 or more between October 2022 and March 2023, each incurring a minimum tax hit of £97,500.
manchestereveningnews.co.uk

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