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9 years to go for me but..........

9 years to go for me but..........

Didn't find your answer?

I have just read an article in the Mail online that suggests that a loophole in the changes in the pension withdrawal regulations will allow working people between the ages of 60 - 75 to invest £8000 in a pension fund and the Government will then top it up with £2000 tax relief. The cash is then immediately withdrawn and after paying basic rate tax, the investor is left with £8500 as one quarter of the pot may be withdrawn tax free. Seems perfectly legal on the face of it but too good to be true. Any input would be appreciated.

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By michaelblake
30th Apr 2014 17:42

Moneybox

 

I seem to recall that the same point was discussed on the BBC Money Box programme on R4 very shortly after the budget announcements and they could not find anyone within the Treasury to comment on it.  

You might try postinmg a question on 

http://www.money-advice-online.co.uk/pensions?source=ad_pensions&gclid=C...

 

 

 

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By ACDWebb
30th Apr 2014 23:12

It's been available for a while

through the trivial commutation rules but the limits increased from 27/3/14

http://www.hmrc.gov.uk/pensionschemes/benefits-reg-pens-schemes.htm

http://www.hmrc.gov.uk/pensionschemes/small-pen.htm

 

 

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