A summary of the latest pension rules and general guidance

Technical Notes

Following the announcements in the Budget on 19 March 2014, that investors were to have complete access to their defined contribution pension assets, and by the Chancellor on 29 September 2014 at the Conservative Party conference, that the pensions death tax would be abolished, the Taxation of Pensions Act became effective from 6 April 2015. In addition, further changes were announced in the Summer Budget on 8 July 2015. The purpose of this note is to summarise the main pension rules in terms of the contribution and benefit limits, the treatment during the accumulation phase and the exit options (including death benefits), matters which should be considered for any investment, and to provide our general guidance and comments.

Follow this link to read our summary