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Recent and upcoming pension changes

In April 2015, the Government changed the rules on how you can use your pension savings in retirement and how you can pass on any remaining pension savings to your loved ones when you die. These changes are sometimes referred to as the new ‘pension freedoms’. Whilst some of the new rules are already in force, others will come into effect on 6 April 2016.  Please click on the links below to find out more. 

 

Pension input periods

An opportunity to build up more benefits in your pension this tax year

A change to the pension input period rules may mean you can pay more into your pension before 5 April 2016.

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Pension cash and income options available now

See a summary of your pension withdrawal options from 6 April 2015.

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Thinking of taking a withdrawal from your pension?

Thinking of taking a withdrawal from your pension?

We’ve produced a series of factsheets which summarise the pros and cons of the different withdrawal options.

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Understanding tax on pension income

Understanding tax on pension income

The tax you pay on your pension income will depend on the amount you take and the way you take it.

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Small pots

Withdrawal of up to £30,000 using the ‘small pots’ rules

A simple and convenient way for some people to take money from their pensions.

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Further changes due from 6 April 2016

Further changes due from 6 April 2016

Find out about further changes to pension rules due to be introduced from 6 April 2016.

Find out more
 

More information/useful links

Collective Retirement Account - take advantage of the pension freedoms with our award-winning Collective Retirement Account.

Pension Freedom - Your Retirement Income Choices - find out more about your investment and income options for your pension from 6 April 2016.

Glossary of terms - baffled by pension jargon? Use our online glossary to get a quick definition.

Expression of wish form - use this form if you wish to provide any individual(s) with the option to receive an income from any of your remaining pension fund when you die.