Pensions

The rules surrounding pensions will be changing significantly from 6 April 2006. The idea is to simplify existing rules and encourage people to save in their pensions. For some people these rule changes will be advantageous, for others not so. Whilst the fine detail of the changes is still being hammered out with the Inland Revenue the broad thrust of the changes is clear. For example, a major change is that residential property can be held in a pension. In many cases reviewing your pension, or setting up a scheme now, will allow you to take advantage of rules which will disappear after April 2006. If you would like to know more about this or understand how the changes will affect you please contact us for more information.