Budget surprise — full access to DC pensions from April 2015
By Jennifer Bell
In a shock Budget, the chancellor has confirmed that from April 2015, anyone over the age of 55 will be able to take their entire defined-contribution (DC) pension pot without any requirement to purchase an annuity or be subject to income drawdown.
It is proposed that, from April 2015, 25 per cent of the pension savings will be available as a tax-free lump sum (as at present) but in addition the member will be able to take the remainder of his pension savings as a lump sum also, taxed at his or her marginal rate of income tax in that tax year. For example, if the individual was a basic-rate tax payer, he would pay 20 per cent tax on the remaining 75 per cent of his fund (at current rates)…
Click on the link below to read the rest of the Nabarro briefing.
News from Nabarro
News from The Lawyer
Briefings from Nabarro
The Pensions Regulator’s financial support direction case against various companies in the Lehman Brothers group has settled.
This briefing summarises some of the key information has to be disclosed by website operators.
Analysis from The Lawyer
Nabarro senior partner and self-confessed “IT geek” Graham Stedman is heralding a major set of investments in technology ahead of the firm’s move to 125 London Wall this year.
Clients are more willing to bring claims against professional service providers but the risk to defendants is not as dramatic as it might seem