Category: Benefits

Important – Reduction of Pensions Lifetime Allowance

If your pension savings are worth – or are likely to be  – more than £1 million you may need to protect your pension savings from the lifetime allowance tax charge. What is the lifetime allowance? The lifetime allowance is the amount of savings you can take from your pension schemes without facing a tax charge. […]

Important Changes from 6 April 2015 on Taking Benefits

There has been a great deal of media comment about the sweeping pension changes coming in April over the way you can access your pension savings. We just want to take a moment to clarify some of the hype. 1. The Current Position 1a) Taking Benefits Presently, you have to be at least 55 years old when you want […]