Q. I am a member of the NHS Pension scheme, and I am 56. I intend to retire when I am 60, but I have a personal pension plan which I want to draw upon next year, when the rules governing personal pensions change. Is there anything I should be aware of? A. You could draw your… Read more »
Q. I have been told it is now possible to access my personal pension fund as a lump sum. I am 52 and could do with the cash. How do I go about this? A. There are two issues here. The Chancellor has announced a change in the rules from next April, which means that… Read more »
Q. I am planning to retire later this year having elected to defer taking my state pension when I was entitled to almost 6 years ago. As a result my state pension when I take it later this year will have increased by just over 60%. I understand that I also have the option to take… Read more »
Q. My wife and I, who are both approaching retirement age, used to work for the same employer that provided us with a generous final salary pension scheme. Unfortunately neither of us were there very long so our forecasted pensions are quite low. We have both recently received information from the scheme, and whilst the… Read more »
Q. I am 57. Last November I took out an Income Drawdown plan. After the changes in the budget, can I now cash in the entire fund? A. The answer is possibly. The full flexibility is due to come in from April next year, allowing time for consultation on the exact rules. In the meantime, there are… Read more »
