Our guide to recent retirement income changes

clock

Stuart Russell delves into legislative changes affecting how retirement income can be taken.

From A-day (6 April 2006), and until recently, legislation required that pension income was ‘secured’ by age 75. This was interpreted as having to buy an annuity by age 75 as the only alternative, alternatively secured pensions was seen as being more of a high net worth solution.  The emergency budget earlier this year announced some welcome changes in the short term and held the promise of future beneficial changes as well. From 22 June 2010, age 75 was replaced by age 77 with the consultation that followed proposing permanent changes from 6 April 2011. While the change to age 77 s...

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 uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •