HMRC has warned older people could have to delay retirement after "losing" their pension age for good. A plan has been launched to track down thousands of savers facing delayed retirements due to a a massive pension transfer failure from HMRC.
HMRC is planning new pension rules bur conflicting guidance may have led to a major blunder. In 2028 the age at which you can access your retirement savings - the "normal minimum pension age" (NMPA) - will rise from 55 to 57.
But since November 2021, many savers have had a legally "protected pension age" of 55 attached to their pension. This means they will continue to be able to take their pension cash at 55 past 2028.
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A spokesperson for the Association of British Insure