Flexible QROPS Drawdown is Coming in 2015

UK Flexible Drawdown Rules to Apply to QROPS in Draft Legislation 2015 QROPS flexible drawdown has been written into new UK legislation which will allow QROPS to allow maximum drawdown or cash lump sum overseas. The need for 70% of a QROPS to provide an income for life has now disappeared from the pension regulations for Read More

Latest Pension News – Pension Pot Follows Member and Pension “Passport”

The latest ideas from the Inland Revenue include being able to take your pension with you no matter what job you move to and the simplification of packs sent to retirees to better explain their income options through a “pension passport” document. Pension Pot Follows Member The idea of a pension pot following a member Read More

OECD: Pensioners May End Up Broke from New Pension Flexibility

OECD Agrees with QROPS Specialists – Pensioners Could End Up Broke The Organisation for Economic Co-operation and Development has concurred with QROPS Specialists and has issued a statement that the new pension flexibility arrangements might be detrimental to pensioners’ incomes. In the OECD executive summary, they state, “Population ageing and the challenging economic environment characterized Read More

Autumn Budget Summary 2014/15 – Will You Pay More or Less Tax?

Autumn Budget Summary- Higher or Lower Tax Bill for Most? I have just read the entire 108 page budget and there is little in the way of surprises. The government has increased pension freedoms, raised income tax thresholds, introduced a more gradual stamp duty threshold, increased personal allowance by 600 quid, reduced death taxes and Read More

New UK Pension Tax Reform Act 2015

HMRC to Shake Up Pension Tax Rules in April 2015 HMRC are introducing sweeping changes to the pensions industry. Here is how the pension tax rules may pan out on April 6th, 2015. Effect on UK Final Salary Schemes Transfers from private sector Final Salary Schemes, known as Defined Benefit (“DB”) Schemes to a SIPP Read More