PENSIONS – Treasury clarification eases decisions for current retirees
Interim changes to the pension crystallisation rules come into force today, allowing many more small pension pots to be taken as cash and making it easier to take drawdown benefits. The insurance industry has also forced the Treasury to clarify in today’s Finance Bill that people taking a tax-free cash lump sum now will be able to wait until April 2015 before deciding whether to buy an annuity.
