Additional flexibility for DC pension savers
Interim measures
From April 2015
ISA changes
Andy Bell, CEO and Actuary at AJ Bell, says, “It is common knowledge that common sense isn’t common in politics and certainly not in the House of Commons. This is an exception and the Government should be congratulated.”
“This is fantastic news for pension savers.”
“Income drawdown has served us well for nearly 20 years, but it has passed its sell by date.”
“Pension savers will be able to get tax relief on pension contributions and invest it tax-free until they need it.”
“Breaking the link between how much a pension saver can take from their own pension pot and a dysfunctional annuities market is an eminently sensible move.”
“We are seeing the start of the end of the dysfunctional annuities market.”
“The increase in ISA allowances is a sign of this government's commitment to long-term savings and investment.”
END.