In the 2014 Budget, the Chancellor announced changes that affect the options open to you if you’re planning to retire in the next 12 months and some proposals for further changes after April 2015. This information is for you if you have not yet retired, not yet taken any of your pension benefits and are thinking of what to do with your pension.
By answering three quick questions, you can get an idea of how the changes could affect you. It will help if you know the type of pensions you have (personal pensions and/or occupational pensions) and how much each one is worth. Your latest pension statement will give you the information you need.
The information we give you here is to help you understand how the Budget announcements have affected the options open to you. This is not advice.
Before you make any decision about your retirement planning, we strongly recommend you talk to a financial adviser. They will assess your personal circumstances and advise you on the best course of action for you. If you don't already have an adviser, you can find one in your area using www.unbiased.co.uk.
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