Autumn Statement Update

The Chancellor, George Osborne, delivered the government's latest plans for taxation and spending in his annual Autumn Statement yesterday.  Whether you are a pensioner, saver or investor, the news will no doubt affect your future finances. With this in mind, Retirement and Investment Solutions highlights some of the key facts and changes that could have an impact on the over 50s.

However there will be a new ‘2014' fixed protection option to ‘fix' the level at £1.5 million. The ‘cost' is that no further payments can be made to money purchase schemes, and the annual increase in pension earned must not exceed the ‘relevant percentage'.

In addition it is proposed that there will be another Personalised Protection option on the table for those already above £1.25 million by 2014. This also allows savers to lock into a £1.5 million allowance, but still pay in to their pension.

We will of course be advising existing Retirement and Investment Solutions’ clients at their review meeting about how these measures will impact on their personal circumstances.

In the meantime, if you have any questions, please contact Retirement and Investment Solutions on 01489 878300.

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