Ken Davy: Are you in for a penny, in for £500?

‘A penny for your thoughts’ used to be the old saying, however, it appears that as far as pensions are concerned, inflation has had a dramatic impact and turned 1p into £500.

I refer, of course, to the recent proposal that people are to be able to access up to £500 free of tax to pay for financial advice in advance of their retirement and, indeed, before the age of 55, when access is now readily available to all except those in government schemes.

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