Armchair Critic: Nine safe bets (and a few unsafe) from pensions 'freedom'

Nine safe bets (and a few unsafe) from pensions 'freedom'

clock

We're only a few weeks away from 6 April and the introduction of most of the pension 'freedoms' announced at Budget 2014. As Brendan Llewellyn writes, there are plenty of 'safe bets' as a result of the changes, but a handful of ambiguities too...

Pensions freedom day is about to come upon us and, as with all liberations, it will bring good things and bad. As a matter of principle it's hard to argue against the merits of choice because, to do so, plays a guaranteed losing hand against those who praise the innate good sense of the great British public. But how will the ‘freedoms' pan out? Here are some safe bets: Some small pots will be encashed; Some existing drawdown clients will decummulate at a heroic rate, now that the GAD limits are away; Some consumers will withdraw sensibly to pay down debts; Some will extend ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

British Steel a stark reminder of obligations around client files

British Steel a stark reminder of obligations around client files

Lawyer Philippa Hann reflects on her work around the pensions case

Hope Coumbe
clock 27 March 2024 • 2 min read
SSAS and the general levy: A victory for common sense

SSAS and the general levy: A victory for common sense

The value of SSASs after general levy consultation outcome

Caitlin Southall
clock 26 March 2024 • 5 min read
Pension dashboard operators join forces to push project forward

Pension dashboard operators join forces to push project forward

Coalition aims to bring 'dashboards to consumers as early as possible'

Jasmine Urquhart
clock 25 March 2024 • 2 min read