Wow….what a Budget that was! Especially for your pensions which is what I will be focusing on here.
There have been some remarkable changes to pension rules which affect your retirement income options. You might be wondering what does it all mean? What difference do the changes mean to me and my pension? In short you have far more flexibility when deciding how take your pension benefits.
Do you take you take a cash lump sum? Do you still buy an annuity? Do you draw an income? Do you just leave your pension invested and take advantage of tax free capital growth with improved death benefits? To quote the Paddy McGuinness catchphrase ‘the power is in your hands‘.
Quite simply it’s about making the right the decision for you and your family. Aside from buying a home for most people a pension is their biggest lifestyle tool. Your pension can unlock your retirement dreams. It can deliver that special holiday, free up more time to spend with children, grandchildren, your husband or wife. The changes which start to come into effect from 27th March 2014 can help make your plans a reality.
So if you are wondering how the new pension rules can help you, now or in the future. If you have a question following the Chancellor’s speech just pick up the phone and speak to one of our experts who will be happy to help. Telephone 01943 851080.
Christopher Little & Co. Helping you along life’s financial journey.
For a summary of the changes to pensions in the 2014 budget please click the following link 2014 Budget Pension Changes Newsletter
