Five retirement planning fundamentals
By Kirsten Hastings, 29 Feb 16
With the tempo of pension reforms unlikely to slow, there are sure to be new pitfalls to avoid. But according to St James’s Place there are five retirement planning fundamentals that will remain. Use the arrows on the images below to find out what they are.
It’s has been almost a year since the biggest shake-up in UK pensions in a generation greatly increased flexibility over when – and how – benefits can be taken. Yet at a time when the new freedoms are still bedding in, further radical change could be just around the corner.
Reforms to pension tax relief could be enacted as soon as March, and the new tax year will see increased restrictions on wealthier investors wanting to save into a pension.
Against this constantly shifting backdrop, financial advice will be the key to making informed choices. The following five ideas could be a good place to start for those who want to better understand the opportunities and traps in 2016.
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