Radical pension shake up
11th February 2015
In a few weeks, the UK’s pension system will undergo one of the most radical changes in its history. If you haven’t already retired, these changes will almost certainly affect you. From April, you’ll be able to access 25 per cent of your pension pot tax free, and pay less tax on any further lump sums.
From 6 April, you will no longer be forced to buy an annuity – an irreversible contract which uses the lion’s share of your pension savings to get a guaranteed income for the rest of your life – as so many have been until now. Instead, you will have far greater freedom to invest, save and even fritter away the funds that you have spent a large proportion of your working life amassing.
From April you will be able to purchase a property as part of your pension and either holiday or long term let it to give you an income. Bricks and mortar feels safer than many other options such as, the stock market, banks and annuities.
The Fowey Estuary area has a very strong history with letting, both long term and holiday letting. Fowey River can offer estimates for both on all of the houses that they are offering for sale.