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Other Pension income options

Pension income

Gone are the days when the government dictated how and how much you could take from your pensions. New legislation has been introduced to allow people to take as much as they like or need from their pension funds directly although not all pensions can accommodate the new rules.

There are however tax implication which you need to be aware of before accessing any pension benefits.

Pensions remain the single most tax efficient product on the market and there are risks of using your fund too quickly and therefore running out of money in your retirement and not being able to maintain your lifestyle.

Most people under estimate their life expectancy and so income sustainability over the long term is essential.

Managing investment and income strategies along with some capital preservation remain crucial.

Pensions have remained a complex subject requiring your attention in order to ensure that your objectives are met. Please call to discuss your specific circumstances and possible tax implications.

Occupational pensions

Section 32, Trustee Proposed S32, Executive Pensions, SSAS’ and Final Salary (Defined Benefit) pensions are all deemed to be Occupational Pensions and may have additional or enhanced benefits than a “normal” pension such as higher than 25% tax free cash from the fund. In order to provide advice in this arena, advisers are required to hold additional qualifications such as AF3, which is held by Jayne Wildish