Contents
All change for pensions
A waste of time & money
Tax credit mess
Fuel up (shock)
Gimme shelter
Gulp! SIPPS
Paper or plastic?
Re: Mortgages
Bank the cheque
Subs beware
VAT's the limit
Dividend end?
The buck stops
Sack with care
Selling up
A matter of trust
We're watching
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6 April 2006 - called "A-day", for some reason - brings in a new regime for pension savings in the UK. Rule changes come and go, but this is a big one, and it will affect anyone who has a pension policy - not least because the new rules will be applied to old products, rather than just to plans sold after the new beginning. Many of the features of pensions will remain the same. During your working life, you will try to save up a pot of money, and then draw on it while you have retired. Policies that you have contributed to in the past are likely to operate much as you have expected them to since you signed up to them. But there are plenty of new opportunities, and a few traps, in the details: what the pot of money can be invested in; how much you can put in each year; how much you can put in altogether; what happens if you go over the limits. This newsletter covers a couple of particular areas in which the new rules will change significantly. Some of the important details haven't even been fixed yet by the government. It will be important for people with pensions to know what their options are, and to act on the basis of a proper understanding. We will be pleased to advise you. |
© Bayar Hughes & Co., 2010.