Money Box Mortgage Charter and Unclaimed Benefits
Oct 10, 2025
Discover how the Mortgage Charter has helped over a quarter of a million homeowners manage payments amidst rising rates. Learn why more people are withdrawing tax-free cash from pensions, driven by personal needs and budget speculation. Millions are missing out on unclaimed benefits, totaling tens of billions, with simple steps to access crucial support. Finally, the proposed removal of the £100 contactless payment limit sparks discussions about consumer safety and banking responsibilities.
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Rumours Drove A Surge In Pension Cashouts
- Rumours about cutting tax-free pension cash drove a one-third rise in lump-sum withdrawals in late 2024/early 2025.
- Evelyn Partners data show pension withdrawals jumped from £11bn to £18bn year-on-year, indicating behaviour changes from speculation.
Bringing Forward A Pension Gift
- Paul Broadhead in Liverpool decided to withdraw some tax-free pension cash earlier and gift it to his grandchildren.
- He said uncertainty over tax rules influenced the timing but that the gift would still be given if rules did not change.
Wait And Seek Advice Before Cashing Pensions
- Do avoid acting on budget rumours and seek regulated financial advice before making irreversible pension decisions.
- Emma Stirland and Evelyn Partners recommend waiting for official announcements and planning around personal goals.