Inter-Generational Pensions Plans

We are now less than four weeks away from one of the biggest changes in pension’s legislation affecting those savers with Defined Contribution pension schemes. These are the changes which Pensions Minster Steve Webb described as “the time to go buy that Lamborghini…..because we’ll let you have access to your pension pots”.

The change will allow pensioners choice, enabling savers aged over 55 to drawdown cash directly from their pension fund rather than buy an annuity. Also, from April 2015 any saver who has funds survive them will be able to nominate family members to receive the benefits. The key is that the new rules under ‘flexi-access drawdown’ will allow future generations to benefit and this does not have to stop at one generation, this can go on to second generation and possible third.

We are hosting seminars on March 10th and 11th, in Leeds and York respectively, where we will be discussing these changes, how you can benefit and how we can help. If you’d like to join us, please contact our events team on events@garbutt-elliott.co.uk or for more information visit the events page here.

For further information about pensions or support for your individual requirements please contact our pensions team on 01904 464100 or enquiry@garbutt-elliott.co.uk.