The 2014 Budget at a glance – key facts that may affect your future finances

It's that time of year again; the 2014 Budget has now been released. The latest announcement from George Osborne puts savers "at the centre", highlighting a range of new measures that will affect future finances. Geared towards the over 50s, this year's Budget includes big changes to private pensions, some of which are coming into effect before the end of next week while other more radical changes are proposed to take effect from 6 April 2015.

These changes open up significant opportunities for more people, reinforcing the importance of seeking financial advice. To help you digest what the proposed changes mean, we list below the major changes and what yesterday's Budget signifies for the over 50s.

From 27th March 2014:

From April 2015:


Other proposals:


Non Pension Changes:


More details will come out over the following days and we will be informing those of our clients that will be affected as and when necessary.

If, however, you have any questions regarding the forthcoming tax and benefit changes, please feel free to contact Retirement and Investment Solutions.

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