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How will George Osborne’s budget affect your company pension scheme?

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How will George Osborne’s budget affect your company pension scheme?

                                  Asia Pacific
How will George Osborne’s budget affect your company pension scheme??

The budget statement in March 2014, signaled a MASSIVE reform of the rules controlling UK pensions.

Under the general heading of ‘Increasing Pension Flexibility’ and how this will positively affect UK pension schemes the Government admitted at the same time to its intention of raising 1.2 billion pounds in additional tax revenue from the proposed changes. As of the end of January this year UK Company pension schemes were collectively carrying a deficit of 171 billion pounds! This is quite a hole in the accounts and naturally prompts the question “What happens if my employer can’t afford its pension promise?” Legislation is being pushed ahead to remove the option to transfer benefits away from these schemes…..and could be implemented as early as April 2015!

With transfer values STILL at record HIGH levels due to low interest rates and the likelihood that your right as an expat to transfer your pension could soon be removed, surely you should look at your ALL your options NOW….before it is too late.

The message from the pensions industry is loud and clear its your money ….USE IT OR LOSE IT!!!

Video of Asia Pacific Pensions

For a free analysis of your current UK company pension contact [email protected]

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