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High earners unaware of pension changes this April says Barclays


Over half of high earners are unaware of pension changes this April according to a survey by Barclays.

The research of 1,461 non-retired adults found 68 per cent were completely unaware of what the A-Day changes will mean and how it will affect their retirement. Also 32 per cent said they had no clue what A-Day is.

There is further confusion with 52 per cent believing there would be a change in contribution limits. A further 40 per cent were unaware that an employee can hold both a company and personal pension. A further 34 per cent were unaware of the change to the minimum retirement age.

Barclays Financial Planning director Stephen Ingledew says: It is important that everyone takes just a few minutes to look at whether the changes happening on April 6 will affect them. Your pension and therefore your future lifestyle in retirement could depend on it.

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