Brits with a pension have been issued an important warning from HM Revenue and Customs (HMRC). They have been warned that withdrawing money from their retirement pot early could cost them.

According to HMRC , dipping into your pension early could be considered tax avoidance. They are urging pension savers to be fully aware of the rules before withdrawing any money. HMRC said in a post on X: "Thinking of dipping into your private pension pot early? It could be tax avoidance and could cost you a lot more than you think. Don’t get caught out. Check out our guidance below."

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Warning issued to anyone that earns over £52,000

Brits can currently withdraw up to 25% of their pension tax-free from the age of 55. There is

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