Tax Advantage February 2009

Pensions are halved

You may have noticed an announcement on 19 February, regarding pension drawdown relief.

The government has announced measures that will help assist those drawing an account based pension to preserve the capital value of their superannuation.



The government has halved the minimum drawdown requirement for the 2008/09 financial year.

Pensioners who have already drawn half of the required minimum drawdown for the 2008/09 financial year will not need to draw another payment under the pension until the end of the 2009/10 financial year.

We’ll let you know of any further changes when the detail is released.

20 February 2009

Disclaimer

The material herein is of the nature of general advice only, and neither purports, nor is intended to be advice on any particular matter that is tailored to your specific circumstances. Neither this firm nor any member or employee of the firm undertakes responsibility in any way whatsoever in respect of reliance solely upon this material, including any errors or omissions howsoever caused.