New regulations on protecting tax-free cash post A-day

After pensions simplification reforms come into force, the government is limiting the maximum amount which can be taken from a pension fund as tax-free cash to just 25%, however, at present some schemes allow clients to take more, so new rules will have to take into account protection of this entitlement. Up until now it was thought people in occupational pension schemes and Section 32 (S32) transfer plans could protect their entitlement to a larger lump sum, providing they didn’t transfer their funds after A-day, as their protection would then be lost. But over the last few weeks, the ...