Greater choice for retirees
Fundamental plans to redesign the UK defined contribution pension system (as opposed to workplace pension schemes) were announced as part of the Budget 2014 speech. This radical announcement to give retirees more choice as to how they take the income from their pension fund will mean that other options may now be given more consideration. These changes make it even more important for those approaching retirement to seek professional help in order to make the most of their pension pot.
If you would like to find out more about how the changes could affect your future retirement plans, please contact either Tony Lloyd or Michael O’Sullivan on 020 8941 9779.