Flexible pension friends: pensions are highly tax-efficient investments. But as with most taxbreaks there is a price in terms of restrictions. Nevertheless they can still be surprisingly flexibleinvestments
Article Abstract:
Personal pensions can be highly tax-efficient and flexibleinvestments, although there are limitations on how much can be paid into them and when theycan be drawn on. However pension plan savings do not have to be turned into a retirementincome all at once, plans can be taken out with several companies and from different ages, andpension contributions do not have to be made monthly, the money can be put asideoccasionally.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Pensioners freed to flex income muscles: having to lock into annuity rates when you drawyour pension has long been a bugbear for retired people. But new rules offer flexibility and thepotential for bigger pensions for investors who know what they're doing
Article Abstract:
New ruleswill mean that personal pension plan holders will have more freedom about when they choose tobuy an annuity, and those who wish to take early retirement will particularly benefit. Personalpension plans holders will be able to defer purchasing their annuities until they are 75, but willstill be able to draw income from the plan and tak up to 25% of the fund's value as a tax-freelump sum.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
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