To many people, pension rules seem like a constantly changing, complex minefield, full of traps and pitfalls for the unwary. If you have a higher income, multiple or large pension pots or more complex requirements, retirement planning and pension drawdown can be even more complicated – and there are a lot of pension rules to follow.
As well as being difficult to comprehend and numerous, the rules around pensions can change every year with the government’s Budget Statements. In fact, in the 15 years between April 2006 (with the heralding of ‘pension simplification’ rules) and March 2021, there have been 28 Budgets and Autumn Statements with no less than 24 including changes to pension rules. If anything, pensions have become more complicated and to some, can be unfathomable.
Altogether, it’s an area that warrants close attention. Pension rule changes could affect your circumstances – whether you are building your pension, thinking about retirement or already in pension drawdown.
We save and work for the majority of our lives to provide for our retirement and we need to know where we stand financially. Putting off looking into your retirement income or deferring multiple pensions, because it is too complicated and time consuming will only affect you and your families future circumstances. Let me help you simplify the process.
For more information, please contact me. I will be happy to help with whatever questions you may have.
Rob.
E: robert.gourlay@holbornassets.com T: (+6) 01151565649 W: www.rgwealthsolutions.com
Comments