"And since that time, since I was a kid, I've never been able to lump all those who come across the border in the same class, in the criminal class".
Mr Lee said people will be able to withdraw a lump sum of their savings after the age of 65.
Meanwhile, Tom McPhail, head of pensions research at Hargreaves Lansdown, said: "We've seen some slightly unexpected activity; for example existing drawdown investors choosing to cut their income withdrawals now, in order to be able to take larger lump sums later".
Head of pensions, Tom McPhail, said : "We've seen some slightly unexpected activity; for example, existing drawdown investors choosing to cut their income withdrawals now, in order to be able to take larger lump sums later".
Instead, people will be able to take the lump sum as cash and organise their own spending.
The changes mean people over the age of 55 will be able to take a lump sum, but if they take any more than 25%, it will still be taxable in most cases.
While the changes posed challenges for providers, most said savers would be able to take out cash lump sums on time.
When you first open an account you will be able to put in a lump sum of up to £1,000, then you can pay in up to £200 a month.
Only, when it comes to applying for a mortgage, the stakes are so much higher and your guarantor stops being someone who will pay for a new microwave if you break the door, and instead has to be able to cough-up vast lump sums.
Adjustments to Compensation Fund Payments The director of the fund set up to compensate victims of the spill said Thursday that businesses would be able to apply for emergency lump-sum payments.
