You are here

A new set of toys

Only time will tell if the chancellor's pensions revamp was a wise and calculated decision or a reckless short-term vote winner, but from a financial advisers point of view nothing has really changed. Advisers just have more tools at their disposal now, says Steve Hennessy

9 January 2015

He might not be the most popular chancellor we've ever had, but I can assure you that George Osborne will be one of our most long-remembered.

It is perhaps too soon to judge the merit or otherwise the extent of his achievements, but what we can say is that under his watch, the government has introduced the most radical changes to pensions in almost a century, and unlike a lot of pensions rule changes in previous decades, this new approach isn't just an issue for compliance departments; we are witnessing a fundamental reorienting of the role that pensions play in our society. The philosophical and political ideology underpinning pension rules in the UK for the past century has focused on their function to provide a degree of certainty (a safety net) in our old age in the form of regular income.

From April 2015 pension savers aged at least 55 will have total control over how they take funds from their pension. They can choose to:

  • ...

Want to read on?

This article is part of our subscription-based access. Please pick one of the options below to continue.

Already registered? Login to access premium content

SUBSCRIBE for one User

Unlimited access to the entire SJ website for a full year for one user.

  • 10 issues a year delivered to you
  • Digital edition of the magazine for one user – sent to your inbox or accessible through the website
  • Access to premium content on the website
  • Access to the fully searchable online archive of Solicitors Journal, Managing Partner and Private Client Adviser, which spans over 13 years
  • Weekly email newsletter with all the latest news, analysis and features
  • Comment on SJ content and contribute to the SJ community online
  • Advanced search feature
  • Online support
  • Access to SJ app compatible with Android and Apple devices – coming soon!
  • 6 special focuses per year
  • Special offers and discounts on Solicitors Journal and IICJ events

Subscribe

CORPORATE SUBSCRIPTION

Your department or entire firm can subscribe to Solicitors Journal online, providing easy access for all who require it. Discount corporate subscription rates apply, based on number of users.

The Corporate IP Licence includes:

  • Digital copy of the magazine sent to individuals’ inboxes and accessible through the website. Solicitors Journal publishes 10 issues per year
  • Unlimited access to premium content on the website based on IP addresses
  • Unlimited access to the fully searchable online archive of Solicitors Journal, Managing Partner and Private Client Adviser, which spans over 13 years
  • Weekly email newsletter with all the latest news, analysis and features
  • Comment on SJ content and contribute to the SJ community online (username required)
  • Unlimited access to SJ app compatible with Android and Apple devices
  • 6 special focuses per year
  • Special offers and discounts on Solicitors Journal and IICJ events

The Corporate IP Licence is tailored to your firm, making it the most cost effective way for the firm to access Solicitors Journal, and enables the firm to remain compliant with copyright and our Terms and Conditions. This gives you the ability to print and circulate articles within the firm.

To enquire about a Corporate IP Licence for your firm, please contact our Subscriptions Manager on emily.beechey@solicitorsjournal.com.