Lifetime ISAs became available as from 6 April 2017, though there are as yet few providers.
Andy Haldane, the Chief Economist at the Bank of England, complained recently that he did not understand pensions and then, as if to prove the point, went on to suggest that property might provide a better return than pension investment.
Pension lifetime allowance In an unexpected announcement, the maximum value of pension wealth which can be accumulated without incurring a 55% tax charge is to be reduced from £1.25 million to £1 million with effect from April 2016.
Budget proposals will allow individuals aged 55 or over to draw personal pension savings as a lump sum as from April 2015, and this is prompting employers with occupational schemes to encourage their members to switch to personal pensions to take advantage of the change.
The Chancellor’s 2014 Budget heralded a revolution in providing for retirement. Here is a summary of what pension savers need to know. Reasons for the 2014 Budget changes The objective of the Budget changes is to remove the need for pension savers to apply their pension pots to purchasing annuities and to enable them instead […]