The Association of Independent Financial Advisers (Aifa) and the Association of British Insurers (ABI) have published a guide for consumers explaining how A-Day may affect their pensions.
The guide aims to raise awareness of the changes brought by A-Day and recommends consumers seek financial advice if certain rules apply to them or they need further information. Fay Goddard, deputy director general at Aifa, says: “We hope it will encourage people to seek advice where required.” She points out the changes are relevant to anyone with a pension, rather than just affecting high earners. Specifically, the guide explains: How much can be paid into a pension fund; How tax relief applies; What the lifetime allowance is; When the consumer can take benefits; How to take i...
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