Uncertainty over pension taxation rules is highlighting a growing need to shift retirement planning to include wider considerations of capital drawdown, according to Key Later Life Finance.
The UK equity release adviser believes those planning for retirement, and their advisers, need to reevaluate the role of all capital including property wealth as speculation builds about potential changes to pensions in the 30 October Budget. Budget rumours are pointing to possible future restrictions on taking tax-free lump sums of up to 25% from pensions to a possible limit of £100,000 and even changes to tax relief on contributions. Looking beyond pension drawdown Key Later Life Finance said any restriction on taking tax-free lump sums will drive changes in retirement planning an...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
