Category Archives: Pensions

Advice and posts on Pensions

Pension Update : 2016 Autumn Statement

Good News / Bad News

Only one change was announced in relation to pensions, and this relates to contribution limits. The current annual contribution allowance is £40,000, but this reduces to £10,000 in cases where the pension holder has begun drawing down income (as opposed to tax-free cash) from a ‘money purchase’ pension. This £10,000 limit is now to be […]

Pension reforms – challenges and opportunities

School Fees Planning

Give the Chancellor 8/10 for his April pension reforms New pension reforms came into being on 6th April 2015.  The materially greater freedoms that now exist have much appeal, yet they come with greatly increased complexity both in understanding and in execution.  On balance these reforms are welcome, but the need for high quality advice […]

New Retirementality: Drawdown or annuity?

Risk of running out of money

The announcement that the income from a joint lives annuity will be tax-free for the survivor of a marriage or civil partnership has to some extent leveled the playing field between the retirement options of buying an annuity and drawing down income and capital from a pension pot. However, the flexibility and tax-efficiency now available […]