The budget on 19th March 2014 introduced dramatic changes to pensions legislation that will give a great deal more flexibility to people looking to access their pension funds.

While annuities will remain an option open to those looking for guaranteed income in retirement, those who are willing to take responsibility for their own pension income will have unlimited access to their pension savings from April 2015.

This is a dramatic change that will enable pension holders to access all of their pension savings and use the money as they see fit in their retirement.

In the meantime, there have also been interim changes announced that will take effect from 27th March 2014 that also open up a variety of options for those approaching retirement now.

These changes are very exciting for the pensions industry and for retirees alike but the need for professional advice is now even more evident than before. It is essential that anyone considering taking their pension benefits now seeks independent financial advice to guide them through their options.

These changes are complex and decisions made today could affect your entitlement to drawing all of your pension fund from April 2015, so it is now more important than ever that you understand all of the options and choose the one that will suit you, both now and in the future.

As Chartered Financial Planners we have always worked on an fully advised basis and welcome these changes as they will provide more choice for our clients.

We are happy to discuss the changes, explain how they will affect you and make a recommendation on how you should arrange your benefits. Please feel free to call us on 0151 353 1066 to discuss.

Please note, the content of our website is currently being re-written in light of the changes to legislation, so some of the information currently available may be subject to change. Please contact us directly if you require any clarification. Our contact number is 0151 353 1066.