Pensions: all change
UK pensions are in an extraordinary state of fl ux. In the past 18 months we have heard former Labour chancellor Alastair Darling announce the slashing of tax relief for those earning £150,000-plus, followed by plans from the coalition to reinstate full tax relief for high earners but cap annual pension contributions at £50,000.
Meanwhile, pension-scheme membership itself is being overhauled. Auto-enrolment into workplace schemes from 2012 will mean a pension plan for all employees unless they contract out. Public sector schemes are being overhauled, with less generous final salary pensions and more emphasis on defined contribution schemes.
This supplement is designed to help. It looks at the best assets to hold when you're building up your pension fund, compares different types of personal pension for those who don't have an occupational scheme in place and sizes up prospects for new ways to withdraw income when you retire, as well as looking at a range of alternative investments that can work well alongside pensions.
This special supplement answers all the burning questions that will enable the shrewd investor to avoid making the wrong decisions that could greatly affect your retirement. Money Observer provides you with the strategies, life-style choices and investment vehicles you should consider for a wealthy future.
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