Budget 2014 – Pension Changes

18 Sep Budget 2014 – Pension Changes

The Budget 2014 saw major pension legislation changes.

New rules will introduce more flexibility, which in theory should be a good thing, so long as you know what ALL your options are and the risks and costs associated with each. Once you are aware of, and fully understand, all of your options, it is then possible to choose the option, or options, to suit your immediate and future requirements.

If you are nearing retirement and want to explore the various options offered by this new flexibility, please contact Astute Money Management for honest financial advice you can trust. We will guide you on the various options including short term annuities (1 to 10 year terms), enhanced/impaired life annuities, investment linked annuities (including with profits), the open market option, compulsory annuities, purchased life annuities, scheme pensions, uncapped and capped drawdown and phased retirement.

We will also take in to account other assets and income you might have to ensure any retirement solution is tax efficient.

Our advice process is as follows:
1) We offer a FREE initial consultation without any obligation to sign up to our paid service:
2) If you want us to provide formal advice, we will assess your circumstances, discuss your requirements now and in the future, then look to recommend the most suitable solution tailored to your needs.
3) Once we know the type of pension income you need, we will then use our research capabilities to find a suitable product provider to meet those needs. We will assess various factors before making a recommendation.
4) If you accept our recommendation, we will then administer the application to get it set up as quickly as possible, answering any questions you have along the way.
5) If a guaranteed lifetime annuity is not the best solution for you and your opt for a flexible annuity or investment backed solution, we offer a regular ongoing review service to ensure the plan/investments remain suitable for your risk tolerances and return requirements.

If you have any questions, please email advice@astutemm.co.uk or call 01202 263856.

This article has been written by Daniel Weldon (Director).

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