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<p>The government does not hold data on the number of carers withdrawing their private
pensions to access the pension freedoms. The introduction of the pension freedoms
offered individuals more choice on how to manage their financial affairs. The Government
believes that in general people should be trusted to make their own choices about
how to use their pension savings in later life - that includes access due to caring
or ill health.</p><p> </p><p>Many people with caring responsibilities can and do balance
work and care, and this helps them plan for and boost their retirement income, and
maintain wellbeing in later life. In recognition Government is working to ensure that
adult carers can be supported to remain in and return to work. For example Government
is working with stakeholders on a Carers Strategy to strengthen the support that is
available to carers and has ensured that carers are central to its reforms to care
and support with stronger rights in the Care Act 2014.</p><p> </p><p>Through its recent
Fuller Working Lives Strategy and its Work, Health and Disability Green Paper, the
government has set out to ensure that wherever possible people with health conditions
can be supported to remain in and return to work. This is good for both their finances,
health and wellbeing. People who are unable to work and who are in receipt of certain
welfare benefits will receive National Insurance credits to ensure they continue to
build up Qualifying Years for their State Pension.</p><p> </p><p>We are working with
industry bodies, consumer representatives, the Treasury, the Financial Conduct Authority
and the Pensions Regulator to interpret emerging research and data findings, and actively
monitoring the market to understand the choices that consumers are making and identify
emerging concerns.</p>
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