July sees the Royal Assent of the new pension rules announced in the March 2011 budget. This means that from that date, no last minute changes can be made to the legislation...

July sees the Royal Assent of the new pension rules announced in the March 2011 budget. This means that from that date, no last minute changes can be made to the legislation. The new pension rules get rid of the necessity to buy an annuity at age 75 and make pensions far more flexible. The amount that can be contributed into a pension changes.

Although the amount that can be contributed into a pension in one year drops from £255,000 to £50,000, complex Anti-forestalling rules limited many people to £20,000 per annum anyway. The £20,000 cap has now disappeared. Additionally, new rules allow up to £150,000 of additional pension contributions from previous tax years. The new rules and opportunities provide a good reason to review your own plan.

Wealth Matters have been providing pension advice to the freelancer and contractor community for over ten years. We are currently offering a free review of pensions and advice about the new rules.

Please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it or telephone 01582 720511 for more information.