Described as the "last piece of the pensions jigsaw", the Chancellor's recent announcement regarding the abolishment of the 55% death benefit charge on drawdown pensions has changed the savings landscape and made investing in a pension more attractive than ever before.
The increased appeal of making more of your pension fund has reopened the debate between pensions vs. ISAs and whether investing more into your pension is a better choice for your long-term financial goals.
With the comparison between the two savings vehicles a hot topic, we recently shared an article from Standard Life, which demonstrates that, like for like, pension savings will outperform ISAs in all but a few extreme solutions. But now armed with the final piece in the jigsaw, Standard Life revisit this topic and explore whether we should continue to use pension funds to meet our retirement income needs, take income from an ISA first or place our ISA savings into a pension.
To view the article, click here.