12th January 2015

Scottish Widows Autumn Statement Update

Following the Chancellor’s 2014 Autumn Statement we produced a clear and detailed summary of the changes.

With the release of the 2015 Finance Bill and related legislative changes, we’ve now created two new in-depth articles highlighting the implications that these changes might have on you and your clients

2014 Autumn Statement Articles

The articles cover the new ‘Freedom and Choice in pensions’ reforms:

Freedom and choice: new ways to take pension tax free cash and income – looks at the key elements of the April 2015 reforms that have emerged piecemeal in the period since the initial announcements in the 2014 March Budget. These radical changes enable money purchase pension scheme members to take benefits as almost any mix of lump sum and income.

Pension death benefits won't tax you – provides a detailed round up of the new tax treatment of death benefits. The changes to the taxation of pension death benefits make pension savings more attractive generally and removes one of the main disadvantages of moving into drawdown.

If you have any questions about the announcement please contact your account manager. You can also visit our adviser hub for the latest insight and information. 

Budget