September 2019 / 22 posts found

Choosing the right business structure

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Pension cap exception may benefit divorcing pension holders

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Home > News A little-known exception to Money Purchase Annual Allowance rules may be used, where applicable, to benefit pension holders. Steve Webb, Director of Policy at Royal London, has pointed out that this might be of particular¬†advantage to those seeking to access funds, for example, on divorce. Royal London notes that since the introduction of ‘pension freedoms’ in April 2015, savers aged 55 or above have been able to take money out of their pensions in ‘chunks’ rather than turn the whole pension pot into an income for life by buying an annuity. To prevent people from repeatedly taking […]