The Taxation of Pensions Act 2014 is nothing less than a manifesto for a revolution in how pensions in the UK are managed, planned and paid out in the future.
The idea that the majority of people should effectively have to use pension savings to provide a regular lifetime income stream in retirement has been thrown out of the window. Anybody involved with a pension scheme – whether an employer, trustee, manager or member, and whether that scheme is defined benefit or money purchase – simply cannot afford to ignore these changes.
This guide, published shortly after the Taxation of Pensions Act 2014 received Royal Assent, brings together and updates our commentary to date on the Act’s key provisions, with the aim of assisting trustees, employers and scheme managers understand the legislation made so far in a period of upheaval and change.
Speak to our expert David Everett for more information.
How we can help
We help you to understand the impact of pension tax changes.