Overview

• Pensioners withdrew tax-free cash fearing a budget change that never occurred, leading to regret and reversal requests.
• Speculation of a reduced tax-free limit from £268,275 to £100,000 prompted a spike in withdrawals before the budget.
• Financial providers report an increase in cancellation requests, though not all allow funds to be returned once withdrawn.
• A 30-day cooling-off period is available for first-time pension access, allowing some to reverse their decision.
• Calls for a government commitment to a pensions tax lock aim to prevent future uncertainty and stabilize saver confidence.