Budget 2014: time extension for securing a pension

By Jennifer Bell

Currently, in order to be authorised under the Finance Act 2004, a pension must be secured not more than six months after (or 12 months before) the payment of any related lump sum.

HM Treasury has recognised that this may be seen as unfair to those who had taken a lump sum before the Budget on 27 March, but have yet to secure the pension…

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