{"id":25992,"date":"2014-07-22T08:17:55","date_gmt":"2014-07-22T07:17:55","guid":{"rendered":"https:\/\/www.wingatebs.com\/full-steam-ahead-2015-pension-freedom\/"},"modified":"2014-07-22T08:17:55","modified_gmt":"2014-07-22T07:17:55","slug":"full-steam-ahead-2015-pension-freedom","status":"publish","type":"post","link":"https:\/\/www.wingatebs.com\/full-steam-ahead-2015-pension-freedom\/","title":{"rendered":"Full steam ahead to 2015 and &#8216;Pension Freedom&#8217;"},"content":{"rendered":"<p>Yesterday the Government confirmed it had agreed the radical changes proposed in the 2014 budget in relation to defined contribution (DC) pensions and their retirement benefit &#8216;flexibility&#8217;.<\/p>\n<p>The announcement\u00a0confirmed:<\/p>\n<ul>\n<li>Defined Contribution (DC) &#8216;flexibility&#8217; will go ahead from April 2015.<\/li>\n<li>Tax-free cash will stay at 25%.<\/li>\n<li>Balance 75% can be withdrawn as a lump sum\u00a0which will be taxed at individual&#8217;s marginal rate of tax<\/li>\n<li>A \u00a310k annual contribution limit will apply after an individual accesses &#8216;flexibility&#8217;<\/li>\n<li>The guidance (N.B.\u00a0NOT ADVICE) \u00a0guarantee will be delivered by a range of independent providers, including MAS and TPAS.<\/li>\n<li>Defined Benefit (aka Final Salary) scheme\u00a0transfers will still be allowed &#8211; but only after professional advice.<\/li>\n<li>Normal minimum pension age is going up from 55 to 57 from 2028.<\/li>\n<\/ul>\n<p>For further information and advice in relation to this important development please speak to your usual Wingate contact or call us on 0844 406 0027 or email us at: info@wingatebs.com<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday the Government confirmed it had agreed the radical changes proposed in the 2014 budget in relation to defined contribution (DC) pensions and their retirement benefit &#8216;flexibility&#8217;. The announcement\u00a0confirmed: Defined Contribution (DC) &#8216;flexibility&#8217; will go ahead from April 2015. Tax-free cash will stay at 25%. Balance 75% can be withdrawn as a lump sum\u00a0which will [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[41],"acf":[],"_links":{"self":[{"href":"https:\/\/www.wingatebs.com\/wp-json\/wp\/v2\/posts\/25992"}],"collection":[{"href":"https:\/\/www.wingatebs.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wingatebs.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wingatebs.com\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wingatebs.com\/wp-json\/wp\/v2\/comments?post=25992"}],"version-history":[{"count":0,"href":"https:\/\/www.wingatebs.com\/wp-json\/wp\/v2\/posts\/25992\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.wingatebs.com\/wp-json\/wp\/v2\/media?parent=25992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wingatebs.com\/wp-json\/wp\/v2\/categories?post=25992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wingatebs.com\/wp-json\/wp\/v2\/tags?post=25992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}