Preparing to call it a day

‘Accountant’s Clinic’

Whatever your stage of life, it has never been as important as it is now to take action about your pension.

To benefit from the changes introduced from 6 April 2015 and enjoy a comfortable retirement – especially if you plan to retire early – you need to have saved enough to make this a reality. The tax breaks available on pension contributions, and also ISA savings, act as a clear incentive to save as much as you can comfortably afford. Susan Hutter provides some useful guidance.

In the March 2014 Budget, the Chancellor announced far-reaching changes to pensions which will affect nearly all consultants.

From 6 April 2015, those who have a private pension plan – a money purchase plan, not the NHS Superannuation Scheme – have carte blanche over what can be withdrawn.