Archive: May, 2014

Budget 2014 Important Changes to Pensions

The Chancellor announced a number of important changes in this year’s Budget: increasing the maximum income from 120% of the Government Actuary Department’s (GAD) table to 150%; the minimum income requirement for flexible drawdown is now £12,000; a maximum of 3 (previously 2) small pension pots up to £10,000 (previously £2,000) can be taken as […]