Queen’s Speech confirms massive pensions overhaul

Queen’s Speech confirms massive pensions overhaul

June 5, 2014 | No Comments

The Queen’s speech confirmed that pension reform will ‘give individuals the freedom and choice to access their pension as they see fit, with the biggest change to the way people are able to access their pension in almost a century’ (Chowdhury 2014). The speech discussed the overhaul of the pension system as well as legislation to introduce new CDC rules. Individuals will be able to withdraw money from their defined contributions pot after the age of 55 as and when they wish and only pay their marginal rate of tax. Withdrawals can be structured to reduce tax charges. Annuity’s need
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Pensions – What did Osborne say again?

Pensions – What did Osborne say again?

April 8, 2014 | No Comments

Was it just me or did anyone else lose Osborne when he was carrying on about pensions and annuities. In fact, here were his exact words, they make a little more sense when you catch every word: ‘The tax rules around these pensions are a manifestation of a patronising view that pensioners can’t be trusted with their own pension pots. I reject that. People who have worked hard and saved hard all their lives, and done the right thing, should be trusted with their own finances. And that’s precisely what we will now do. Trust the people. Some changes will
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