The Pension Act 2014

The new state pension regime moved a step closer in May.

On 15 May the Pensions Bill 2013 finally became the Pensions Act 2014 after more than a year working its way through parliament. It is a major piece of legislation, which will ultimately create widespread change to the pension landscape.  The main areas the Act covers are:

The Pensions Act 2014, together with forthcoming reforms to how retirement benefits can be drawn, mark a generational overhaul in pension rules. Whatever retirement plans you have, they will almost certainly need to be reviewed.

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.