Last week we shared with you some of the exciting changes that are being introduced in the pension arena which now mean you have far more FREEDOM and CONTROL over your retirement savings. Just to follow up we wanted to get you thinking about what new options could you be thinking about…..
Taking Control Over Your Future with Retirement Savings Changes
How Could You Say ‘No’- Give Pensions ‘A Go’- Part 2
Last week we shared with you some of the exciting changes that are being introduced in the pension arena which now mean you have far more FREEDOM and CONTROL over your retirement savings. Just to follow up we wanted to get you thinking about what new options could you be thinking about….
Chancellor abolishes 55% tax on pension funds at death
People with defined contribution pension savings will no longer have to worry about their pension savings being taxed at 55% on death.
The Chancellor today (Monday 29 September) announced that from April 2015 individuals will have the freedom to pass on their unused defined contribution pension to any nominated beneficiary when they die, rather than paying the 55% tax charge which currently applies to pensions passed on at death.
