Next Year’s Pension Reforms

The Government has set out further thoughts on what pensions will look like from next April.

The Chancellor’s Budget bombshell of pension reform was accompanied by a consultation document setting out his broad proposals for industry comment. The consultation period ended in early June and in mid-July the Government issued its response. There were few surprises, but some tweaks of note:

A still clearer outline of the changes should emerge this month as the Government has promised draft legislation for technical consultation.

The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. The value of tax reliefs depends on your individual circumstances. Tax laws can change.