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Pensions reform
On 6 April 2006 the Government changed the tax rules for pensions. The changes have been brought in to give more flexibility over how and when you can save for your pension and provides additional options on how you take your pension benefits when you retire.
If you are an existing Zurich pension customer you should have received a letter and booklet which help to explain some of the important changes and how they may impact on your retirement plans. You can download copies of the booklets below, which vary depending on the type of pension plan you have, and some frequently asked questions.
- If you have very large pension savings or pensions life cover the new Lifetime Allowance will be particularly important to you. You may wish to seek help, as there may be tax implications.
- If you are intending to retire before age 55 the new minimum retirement age will be of interest to you.
- If you are considering retiring soon, you will need to know about the new choices available to you.
For further information or help specific to your circumstances please speak to your adviser or employer.
We have also produced some guidance for Scheme Administrators or Trustee of occupational pension schemes on the new rules and regulations to help summarise the key changes to their members.
Early in 2006 we sent booklets to our customers which vary depending on the type of pension plan they have. Copies can be downloaded below:
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