New pension legislation will bring in the most radical change to pensions we’ve witnessed in a lifetime.
The Government’s draft Taxation of Pensions Bill is now speeding through its four week Consultation Period, whilst the amendments to the Finance Act 2014, easing the limitations to the time limits for current payments of Pension Commencement Lump Sums, work their way through in time for the Chancellor’s Autumn Statement.
The purpose of the developing pension legislation is to smooth the path to the arrival next April of the Chancellor’s “Freedom & Choice in Pensions”, announced in the Budget on 27th March 2014.
Make no mistake, the pension legislation now in progress shall bring in the most radical change to pensions we’ve witnessed in a lifetime. The coming changes are so far-reaching that they’ll surely remould the landscape and structure of all long term savings.
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