Budget changes to pensions - you'll have more freedom to take money from your pension and will get guidance
If you retire after April 2015, you may be entitled to free guidance on pension options and don’t have to buy an annuity

If you retire after April 5th 2015, you may qualify for free and impartial ‘guidance’ on what you can do with your pension. Also from 6th April 2015, people in workplace ‘defined contribution’ pensions (i.e. not final salary type schemes) and those with private pensions can take money from their pensions. Only people who are in workplace defined contribution or who have personal pensions can get the free guidance.

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27-03-2014
19-10-2014
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Government pension reforms: taking money from a pension
From April 2015 you’ll be able take money from your pension as you wish – or can you

There’s been a lot written about the government’s planned changes to pensions in April 2015. The Chancellor announced in the Budget that the rules would be changed from April so most people will be able to take as much as they’d like from their pensions. There’s been talk of using your pension like a bank account. But will this really happen?

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14-10-2014
14-10-2014
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Tax relief on pension contributions - what is it and how does it work?
If you don’t understand how ‘tax relief’ works on pensions you’re not alone. But it’s worth knowing about

There’s lots of research around which shows that more women than men tend to be put off pensions by the complex rules and jargon. It’s not that pensions are too complicated for us to understand, it’s just that the complexity can be - well - a bit alienating. One of the phrases that’s bandied about but not always understood is ‘tax relief’. Basic rate taxpayers can pay £80 into their pension and get another £20 from the government. Higher rate taxpayers get even more.

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11-06-2012
14-10-2014
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The material provided on this website is general information that is intended for general guidance and is not suitable for professional advice.
You should always obtain independent financial advice.