Pension Review for U | Pension Advice Manchester | Pension Plans Manchester
Email Us
01942 795795
  • Home
  • About
  • Pension Services
  • Final salary schemes
  • Legislation Change
  • Case Studies
  • Contact us

Legislation Changes

The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.

​Budget changes in 2014 will fundamentally change the retirement income options for people with Defined Contribution pension plans such as Personal Pensions, Stakeholder Schemes and Group Personal Pensions.

’Changes to pension rules are a major challenge to consumers’
Daily Mail
​
’This rule relaxation strengthens the need for financial advice’
Citywire
​

​Who is affected?

  • Clients who have reached 55 and have money purchase pension savings in UK schemes.
  • People within current income drawdown pensions. (HMRC Aug 2014)

    Contact Us.

Submit

What is the new plan?

  • ​This will allow funds in a money purchase arrangement to be taken as an authorised taxed lump sum subject to their marginal rate of tax and after any 'Pension Commencement Lump sum' is taken.
  • Have 25% of the fund as tax free amount
  • More consumer choice
  • Flexibility of income from age 55, this could be used to pay off debt or book that special holiday at or before retirement.
Tax treatment varies according to individual circumstances and is subject to change.
Pensions Review for U and Positive Solutions are trading styles of Quilter Financial Planning Solutions Limited, which is authorised and regulated by the Financial Conduct Authority.

Privacy Policy
​
© Pensions Review For U 2014 - 2020
  • Home
  • About
  • Pension Services
  • Financial Salary Schemes
  • Legislation Change
  • Case Studies
  • Blog
  • Contact
​Address
192 Elliott St, Tyldesley, Manchester M29 8DS

Telephone

01942 795795

​Email

Click Here
  • Home
  • About
  • Pension Services
  • Final salary schemes
  • Legislation Change
  • Case Studies
  • Contact us
Website by Yuuzuu Ltd