The flexible pension rules that came into effect in April 2015 will have broadened the options you have at retirement, giving you extra freedom and choice. The scope and implications of these changes is complex and will vary depending on your circumstances.
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Seek advice to maximise your opportunities
It may be tempting to dive straight into your pension pot but planning is key to avoiding potential pension pitfalls, or worst case scenario, running out of money. Seeking advice will be crucial to maximising the opportunity that the new rules offer you.
Good quality independent financial advice will help you:
- Gain a clear understanding of the new rules
- Assess and review your assets and income streams
- Explore and identify your objectives from 55 and throughout retirement
- Explore how you can use your assets in the most effective and efficient manner
- Understand the income and inheritance tax implications
- Review your situation as your retirement unfolds
Any more questions?
We’re here to help BVA members with their retirement plans. If you would like to speak to a member of our team and arrange an appointment with your local adviser, please call 01823 250750.