Surge in long-term savings withdrawals exposes major flaws in the system
Britons trying to plug the financial holes inflicted by coronavirus are drawing cash from long-term savings that aren’t meant to be used as emergency savings accounts, pensions experts are warning, as punitive charges prompt an urgent change in the law.
Last week, John Glen, economic secretary to the Treasury, announced a minor-sounding tweak about an all-but-ignored kind of government-backed…