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Have pensions finally found their sex appeal?

After a groundbreaking Budget, pensions are back on the agenda and simply cannot be ignored, says Colin Lawson

16 May 2014

At the start of March, when presenting a seminar, I was asked what I thought would be in the Budget. I glibly replied: "I can almost guarantee there will be nothing of interest!" What actually transpired was a Budget that will revolutionise the savings market for years to come.

Groundbreaking is a term that is used far too frequently, but in this case it's almost an understatement. To allow people unlimited access to their own pension fund at any time after age 55 will completely change the way people save for their retirement.

If, like me, you're in your mid-40s, a pension plan is no longer a long-term savings vehicle in which you tie your money up for the rest of your life. It's now been transformed into a flexible ten-year savings plan.

You can get up to 45 per cent tax relief (in some cases that can rise...

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