Pensions simplification
On the 6th April 2006 (A-day) new rules will be introduced which will impact on just about anyone who is either saving, or contemplating saving, within in a pension scheme. The Government's proposals for simplifying the taxation of pensions will radically alter how much you are allowed to save for retirement, the manner in which your pension fund can be invested and how your retirement benefits are eventually paid.
The Government's ultimate intention is to provide you with incentives to save more for retirement. However, due to the nature of the proposals, it is important that you understand how the new rules will impact on your personal circumstances and seek advice to protect your current entitlements from onerous tax charges. At the same time, the new rules will provide you with real opportunities to enhance your ultimate retirement provision.
You can download the document 'Pensions Simplification - It's time to act' to find out more about the new simplified regime, including action points you will need to consider in preparation for the changes ahead.
You'll find it in the useful links on the right. If you don't already have Acrobat Reader (version 4 minimum requirement) installed on your pc you will need to download it now.
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