Petition · past parliament

Allow up to 10% Tax Free withdrawals from UK Pension Funds for all workers

Rejected 21 signatures

What the petition asks

To allow UK workers under the age of 55 to withdraw up to 10% of their existing Pension funds to overcome the economic hardship and enable cash to be put back into the economy. Once this cash has been withdrawn an equivalent amount should be added to the Tax Free allowance for the next 3 Tax Years.
Because without liquidity all spending will grind to a halt, unemployment will then increase further compounding the problem until eventually everyone will be unemployed. Many higher earners are facing unemployment or unpaid leave and the potential for mortgage and loan defaults and yet have enough money invested in Pension Plans which they are unable to access due to their age.

Why it was rejected

There was already a petition about this issue. Duplicates are rejected so signatures collect in one place.

You may wish to sign this petition calling for the same action: Give all UK citizens access to their pension pots immediately tax free.

You can find out more about coronavirus and how you can protect yourself and others here:

www.gov.uk/coronavirus
https://www.nhs.uk/conditions/coronavirus-covid-19/

The Government has also created an online service to help you out what you can do if you’re struggling because of coronavirus: https://www.gov.uk/find-coronavirus-support

You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips

You can read impartial analysis of the Government response to coronavirus and policy developments here:
https://commonslibrary.parliament.uk/coronavirus/

You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.
 
Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: https://committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/
 
Read letters asking further questions of Government Ministers: https://committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/

Timeline

31 Mar 2020 Petition opened for signatures
24 Apr 2020 Rejected by the Petitions Committee

Key facts

Signatures 21
Status Rejected
Rejected 24 Apr 2020

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Source: the official petition page. Last checked 15 Jul 2026.