|Blow your pension on one of these?|
The new pension rules that came into force in April of this year have hit the headlines with scare stories of pensioners blowing their pension funds on Lamborghinis and Ferraris, but the truth is the new pension freedoms offer a huge opportunity for most people.
Before the new rules came into force most people were forced into buying an annuity with their pension fund, which would die with them, or facing a punitive tax bill if they hadn't ‘crystallized’ their fund before they died.
The good news is that behind the headlines there is now an opportunity to pass your pension on to future generations of your family. You can also use your pension fund for inheritance tax planning, potentially saving thousands in tax when you die.
This all means that it is time to review your Will and make provisions to pass your pension to your family. For most people their pension fund can be the second largest asset that they own after their home, so good quality professional advice is critically important.
To review your Wills, and the way in which your pension funds will pass down your family call us today 01778 382723 to make your appointment.