Property News · September 3, 2016

Take £500 out of your retirement pot to buy expert pensions advice


New government scheme offers a tax-free allowance to pay for a professional and personalised financial reportPeople will soon be able to take up to £500 out of their pension pots tax-free, as long as they spend it on financial advice. The government this week unveiled details of the “pensions advice allowance” that will be available to millions of people well in advance of their retirement.It is possible that people as young as 45 could be eligible for the scheme, which will be in addition to the normal 25% tax-free lump sum you can take out of your pot from age 55. We look at what is proposed and what sort of advice £500 can buy. Continue reading…

Source : theguardian.com
Read more…Take £500 out of your retirement pot to buy expert pensions advice

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