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2015 Pension Rules Changes - free factsheet

Budget 2015 pension changes

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They were possibly the most radical pension reforms in almost a century. Up to 18 million people were affected. This factsheet explains concisely and in plain English the changes and how they could affect you. This guide is not personalised advice.

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Our factsheet is based on our current understanding of the rules. It is a broad summary and cannot cover every nuance. You should not take, or refrain from taking, any action based on this information. Tax treatment can change and depends on your individual circumstances.

Please remember, taking money out of a pension will impact standards of living in retirement. This information, like our service is not personal advice. If you are unsure an investment is right for you, contact us and we can put you in touch with an adviser. The value of investments can fall as well as rise so you may get back less than you invest.

Hargreaves Lansdown PLC group companies will usually send you further information by post and/or email about our products and services. If you would prefer not to receive this, please do let us know. Your personal data will remain confidential, and will never be passed to any other company, unless required by law.

The information on our website is not personal advice but we can offer advice if specifically requested. What you do with your pension is an important decision, which could be irreversible. Drawdown is a more complex option than an annuity. Make sure you understand your options and check they are suitable for your circumstances: take appropriate advice or guidance if you are unsure. The Government's free Pension Wise service can help. It provides impartial guidance face-to-face, online or by phone - more on Pension Wise.

Take your whole pension as a lump sum and other changes explained

This factsheet reveals:

  • How to take a whole pension as a lump sum
  • How to take the tax free cash
  • How to pass on a pension tax free
  • What the drawbacks are

quoteThe most radical changes to pensions in almost a century

George Osborne

Our factsheet is based on our current understanding of the rules. It is a broad summary and cannot cover every nuance. You should not take, or refrain from taking, any action based on this information. Tax treatment can change and depends on your individual circumstances.

Please remember, taking money out of a pension will impact standards of living in retirement. This information, is not personal advice. If you are unsure an investment is right for you, contact us and we can put you in touch with an adviser. The value of investments can fall as well as rise so you may get back less than you invest.

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