The pension freedom rules introduced in April 2015 have seen dramatic changes to pensions. The biggest change affecting anyone making provision for retirement is the ability for individuals to take the whole of their pension fund at retirement as a lump sum. 25% of this is tax-free and the remainder is taxed as income, whilst the death benefits of pensions can also provide individuals with a tax efficient way to pass assets down from generation to generation.
With a wider choice over how we can control our retirement savings, Lycetts believe that pensions not only play a much greater role in meeting objectives for retirement but also other areas of financial planning.
For pension advice specific to your requirements,
"Lycetts helps clients to understand the best routes to a stable retirement income or savings, based on their target retirement income and their attitudes to risk. Some clients mix and match pension products to create different income streams, while others stick to one option to guarantee a stable return."
As independent financial advisers, Lycetts has access to the whole market to find the most...read more
With an abundance of options available when it comes to retirement plans, it pays to...read more
Lycetts has extensive experience in dealing with investors looking to take advantage of...read more
Lycetts helps companies to migrate pension plans across to compulsory auto enrolment...read more
Lycetts experts arrange bespoke critical illness cover to protect dependents in the...read more
Lycetts personal protection experts guide you through the best available income...read more
Our experienced staff understand your needs.
Read more about developments both in insurance and at Lycetts.
February 2, 2017
Defined Benefit (DB) Pensions are the Rolls Royce of pensions. These gold-plated pensions give a defined level of inflation-proofed income in retirement. However, like a Rolls Royce they are very expensive, which is why most employers no longer offer them to new employees.read more
January 25, 2017
Compared to George Osborne’s statements and budgets in 2015 the new Chancellor had few surprises in last year’s Autumn Statement for investors and savers. The most noteworthy changes are to Income Tax thresholds, a new enhanced Residence Nil Band tax rate and new Lifetime ISAs, all of which come into effect in the tax year...read more