Redswan News

If your pension savings are worth – or are likely to be  – more than £1 million you may need to protect your pension savings from the lifetime allowance tax charge. What is the lifetime allowance? The lifetime allowance is the amount of savings you can take from your pension schemes without facing a tax charge. […]

read more >

There has been a great deal of media comment about the sweeping pension changes coming in April over the way you can access your pension savings. We just want to take a moment to clarify some of the hype. 1. The Current Position 1a) Taking Benefits Presently, you have to be at least 55 years old when you want […]

read more >

The Chancellor announced a number of important changes in this year’s Budget: increasing the maximum income from 120% of the Government Actuary Department’s (GAD) table to 150%; the minimum income requirement for flexible drawdown is now £12,000; a maximum of 3 (previously 2) small pension pots up to £10,000 (previously £2,000) can be taken as […]

read more >