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The Next Round with Steph and Dom Pension

To strip back the jargon around the pension changes coming next April, Standard Life sent TV’s Steph and Dom from gogglebox, to a traditional London pub to have a chat with some pub goers.

Watch the video below to see Steph and Dom from gogglebox have a chinwag with the locals over a tipple or two to hear what they have to say about the upcoming pension changes.

 

If you’re 55 or over, your pension options increase from April and a whole new world of flexibility opens up. Take a look at what’s changing following the announcements in the 2014 Budget 

Illustration shows pension options before the 2014 Budget and from 6 April. Illustration shows pension options before the 2014 Budget and from 6 April.Remember you can mix and match options too

If you choose a flexible income option, it’s important to consider that your money stays invested and its value can go up and down and you may get less back than you paid in. And, if you take it all out as cash, you need to think about the tax you’ll pay.

Of course laws and tax rules may change in the future. This information is based on our current understanding in November 2014 and your personal circumstances also have an impact on the taxes you pay.

Why not discuss your options with an independent financial advisor contact us here.

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This information was produced by Standard Life to see more information on their blog click here.

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