Following consultation, the government is to introduce an allowance for advice in relation to defined-contribution pension savings, with effect from April 2017.
Following consultation, the government is to introduce an allowance for advice in relation to defined-contribution pension savings, with effect from April 2017. This will permit individuals to withdraw £500 tax-free from their pension pots on up to three occasions during their lifetime, but only once in a tax year, to pay for retirement advice. The new authorised payment, to be known as the pension advice allowance payment, will be available in addition to the exemption for employer-arranged pensions advice to be introduced in Finance Bill 2017. The key features are:
HMRC has published in draft the Registered Pension Schemes (Authorised Payments) (Amendment) Regulations 2017 for consultation until 28 February. See http://bit.ly/2kIZsB2.
Following consultation, the government is to introduce an allowance for advice in relation to defined-contribution pension savings, with effect from April 2017.
Following consultation, the government is to introduce an allowance for advice in relation to defined-contribution pension savings, with effect from April 2017. This will permit individuals to withdraw £500 tax-free from their pension pots on up to three occasions during their lifetime, but only once in a tax year, to pay for retirement advice. The new authorised payment, to be known as the pension advice allowance payment, will be available in addition to the exemption for employer-arranged pensions advice to be introduced in Finance Bill 2017. The key features are:
HMRC has published in draft the Registered Pension Schemes (Authorised Payments) (Amendment) Regulations 2017 for consultation until 28 February. See http://bit.ly/2kIZsB2.