Property Investment News – Finally some good news!
New rules on pension investment will apply from April 2011 allowing pension investors to take advantage of income draw down and pass on unused pension savings to their heirs – rather than losing it to the insurance companies, which is the norm at the moment.
With income draw down your pension fund remains invested and after taking any tax free cash you require up to a maximum of 25% of the fund value (from age 55), you may be able to draw an income from it thereafter.
This is great news if you have a personal pension or a Self Invested Personal Pension (SIPP). It’s your pension, so do your investment research now, what it can do for you or if the new rules applies to you. Is your pension really working hard enough for you?
It’s very important that you have this information, the days of paying into a scheme and forgetting about it until retirement are over. Procrastination is no longer an option.