Discover the latest developments in the world of pensions with Integrity365’s comprehensive summary of the key pension headlines in Q2 2023. In a year filled with significant changes, including those unveiled during Chancellor Jeremy Hunt’s surprising Spring Statement, it’s crucial to understand the true implications of these updates.
Here’s a sneak peek into what we’ll be exploring in this bulletin:
- The Pension Lifetime Allowance to be Abolished: Unravel the ramifications of this momentous change and the potential impact on your pension.
- The Pension Annual Allowance Has Increased: Find out how the increased allowance could benefit your pension contributions.
- Capping Maximum Tax-Free Cash Sum Available: Gain insights into the limitations placed on tax-free cash sums and navigate the new landscape.
- The Tapered Annual Allowance Has Changed: Understand the revised criteria for the tapered annual allowance and how it could affect high earners.
- Important Updates to Automatic Enrolment: Stay informed about the latest developments in automatic enrolment and the potential implications for your pension plan.
- The Money Purchase Annual Allowance Has Increased: Explore how the increased allowance may affect your ability to contribute to money purchase pensions.
- Expected Changes to State Pension Age: Get a glimpse into the anticipated adjustments to the state pension age and how they may affect your retirement plans.
For a more personalised understanding of these changes and their specific implications for your unique circumstances, we encourage you to contact your usual Beavis Morgan adviser, who will connect you with an Independent Financial Adviser at our partner company Integrity365. They will assess your situation and guide you on the pension protections best suited to your needs.
Don’t miss out on the opportunity to stay ahead of the curve. To learn more, email info@beavismorgan.com, and an adviser will be in touch promptly.
Discover the essential highlights of Q2 2023’s pension landscape in the enclosed summary. Stay informed with a comprehensive overview of the key pension headlines during this period.