UK Treasury under fire over tortuous age changes to access pensions

UK Treasury plans to allow some people to retain a Normal Minimum Pension Age (NMPA) of 55 while others move to 57 risk creating a ‘hot mess' of complexity and confusion for savers, argues UK investment platform A J Bell. Savers can retain the lower NMPA by opening a scheme offering an unqualified right to access their pension at age 55 by 5 April 2023. Unwieldy proposals could be a gift to unscrupulous pension scammers and compromise other Government initiatives, A J Bell said. Tom Selby, head of retirement policy at AJ Bell, said: "The Treasury has taken what should have been a ...