Neil MacGillivray of James Hay Partnership explains how to advise on the new pension legislation in the most tax efficient way.
This year has seen yet more major changes to pension legislation. With the removal of the requirement to annuitise at age 75, along with the introduction of capped and flexible drawdown, it is essential advisers are fully aware of the consequences of these changes. The new added flexibility on how pension benefits can be taken will attract many more individuals towards choosing drawdown and the need for advice on how best to extract those benefits in the most tax effective manner will be essential. Now that the drafting of the new legislation is almost finalised, it is an opportune time ...
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