22 April 2020

Royal London welcomes proposals to relax pension rules for workers helping fight COVID-19

4 min read

Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings

Share

Responding to a written statement in the House of Commons proposing temporary changes to pension tax for public sector workers returning to help in the fight against COVID-19 Moira Warner, senior intermediary development and technical manager at Royal London, said:

“After already making temporary changes enabling retired doctors and nurses to return to duty and fight the spread of COVID-19 without risking their pension income it is welcome to see government propose similar changes across the wider public sector so service quality can be maintained.

Public sector pensioners should note though, that the Government does not appear to intend a wholesale relaxation of relevant rules, it will only apply to people returning to work as a result of COVID-19.  Anyone whose pension was already suspended or reduced prior to the current crisis as a result of returning to work is unlikely to benefit from these changes.”

ENDS

 

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London:

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £139 billion, 8.6 million policies in force and 4,348 employees. Figures quoted are as at 30 June 2020.