Pensions & Annuities

What is A Day?

Since 6 April 2006 there have been lots of changes to the way pensions operate in the UK. It's all been aimed at offering you far more interesting and attractive methods of saving and investing for an income in the future.

About the new pensions regulations:

• Pensions are simpler. This has been done to help people feel more comfortable with pensions and encourage them to save for an income in the future. This is a significant change and it means you can take the benefits from your plan at any time from age 50 (age 55 from 2010). You don't need to retire.
• There's now far more freedom of choice and flexibility when it comes to planning for the future.
• There's a broader range of options when you come to take your benefits.

Main features:

• A new annual allowance.
• A new lifetime allowance.
• A tax-free cash allowance (when you decide to take your pension benefits).
• More options to choose from (such as new types of annuities).
• A number of ways to protect your existing pensions benefits to ensure you're not disadvantaged after A-Day.
• Changes to the current retirement and pension age limits.

If you would like to find out more please email us ( aday@braemarwm.co.uk) or visit the Financial Services Authority website which has a dedicated pensions website and range of A-Day publications for consumers.

Visit this at: www.fsa.gov.uk/pensions

Braemar Wealth Management (NW) Limited is authorised and regulated by the Financial Services Authority. Braemar Wealth Management (NW) Limited is entered on the FSA register (www.fsa.gov.uk/register/) under reference 425022. The FSA does not regulate some forms of tax planning and investment structures.
Registered in England & Wales, number 05328421. Registered office – 38 Woodlands Parkway, Altrincham, Cheshire WA15 7QU