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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff and Julia Kollewe

Tax-free withdrawals from pension pots surge amid fears over autumn budget

Rachel Reeves
The Fabian Society has recommended that the chancellor, Rachel Reeves, significantly lowers the tax-free threshold for withdrawals on pension pots. Photograph: Murdo MacLeod/The Guardian

Savers have started to withdraw cash from their pension pots amid fears over potential tax changes at the autumn budget, according to investment companies.

The investment platform AJ Bell said reports that the chancellor, Rachel Reeeves, was likely to increase taxes at the budget on 30 October had spooked some of its customers into new retirement savings decisions.

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