HMRC ‘harming' savers' pensions in tax-free lump sums row [Yahoo! Finance]
Aegon Ltd. New York Registry Shares (AEG)
US:NYSE Investor Relations:
aegon.com/investors
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Source: Yahoo! Finance
The tax body is also in discussion with the Financial Conduct Authority (FCA) regarding the issue, The Telegraph understands. Under current rules, savers can take 25pc of their pension pot tax-free from the age of 55, up to a maximum of £268,275. But fears that Chancellor Rachel Reeves would slash the tax-free allowance to £100,000 in the Budget prompted a spike of savers to request to withdraw their pension lump sum. Savers acted on the guidance that they had a 30-day cooling-off period, including the right to reverse the transaction after it had been received. However, in a newsletter published last week, HMRC said that the practice was in breach of tax rules. The tax authority said cooling-off periods do not apply to such withdrawals, adding: “The payment of a tax-free lump sum cannot be undone and the member's lump sum allowance will not be restored.” The announcement means savers who acted in accordance with the guidance of their pension providers may now be forced t
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- Spruce Point Capital Management Announces Investment Opinion: Releases Report and Strong Sell Research Opinion on Aegon Ltd. (NYSE: AEG, Euronext: AGN)Business Wire
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- With 57% ownership of the shares, Momentum Group Limited (JSE:MTM) is heavily dominated by institutional owners [Yahoo! Finance]Yahoo! Finance
- Savers not allowed to return their tax-free lump sums, HMRC warns [Yahoo! Finance]Yahoo! Finance
AEG
Sec Filings
- 12/16/24 - Form 6-K
- 12/11/24 - Form 6-K
- 11/15/24 - Form 6-K
- AEG's page on the SEC website