There are a number of changes to pension rules due to take place from April 2015. They include removing many of the access rules to pensions so that most individuals will be able to reach into their pension and take out as much as they want. Another major change, people dying before age 75 will be able to leave their pensions to anyone they want – and the beneficiaries will receive the lump sum or income free of any tax!
Pensions in 2015 will be the focal point of many smaller businesses as they feel the hot breath of The Pension Regulator on their neck. Tens of thousands of businesses will have to deal with the compulsory Auto-Enrolment Workplace Pensions as they hit their Staging Date (start date) in 2015 and hundreds of thousands of small businesses in 2016 and 2017!
As always we are happy to use our experience and expertise to help you unravel the mystery that pension changes sometimes bring.
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