This petition was submitted during the 2015-2017 parliament
Rejected petition Stop Hammond reversing policy to let pensioners withdraw their pension pots.
New pensioners are allowed to keep their pension pots. The reason existing pensioners were not included is because insurance companies do not want money taken out of their annuity funds. George Osbourne eventually agreed it was unfair to existing pensioners. Hammond has no right to reverse it.
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I could buy a house as an investment with my pension pot, so that when I die I can bequeath it. But Hammond appears to think because I am a pensioner I am unfit to make the decision to use my money paid by myself and my employer for what I want. Hammond could include a clause that withdrawals from pension pots should be recorded and claims for benefits should be withheld until the amount drawn out has be withheld.
This petition was rejected
Why was this petition rejected?
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