How new pension freedoms will push up the care bill

Michelle McGagh
old people holding hands....
old people holding hands....

The relaxation of the pensions rules is great for those coming up to retirement who will now be able to get their hands on their savings. But is the new generous regime storing up longer term problems?

There are concerns that the Treasury could lose as much as £24 billion in revenue as those nearing the end of their working lives pile money into their pensions and receive generous pension relief by taking out large chunks of it tax-free when they retire.