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British Pension Reforms Risk Fueling Inequality, OECD Says

Law360, London (December 5, 2017, 1:48 PM GMT) -- Controversial U.K. pension reforms risk fueling inequality by allowing wealthier savers to withdraw lump sums from their pensions to fund early retirement, the Organisation for Economic Cooperation and Development warned Tuesday.

Sweeping pension freedoms, introduced by then-Chancellor George Osborne in 2015, could hand an unfair advantage to those who can afford to stop working before they reach state pension age, the OECD said in a global report.

“This is exacerbated by the rigidity of the state pension and the lack of flexibility around retiring earlier, as...
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