The changing face of pensions

In the past decade the way we save for retirement has changed dramatically but what does this mean for you?

Generous tax treatment

The pension freedoms introduced in 2015, and the generous tax treatments, make pensions an advantageous way to save.  The essential points of these freedoms include:

  •  No requirement to purchase an annuity

  • The pension can be taken in a variety of different ways

  • Any money remaining in the pension pot after you die can be left as part of an inheritance more easily

  • Pension’s savings can be passed to your loved ones entirely free of tax if you die before the age of 75.

John Baxter1 Comment