Steve Latto, head of pensions at Alliance Trust Savings, on making sure a change in income does not lead to an unexpected outcome.
In the fast changing world that we now live in, one of the key challenges all advisers face is keeping up to date with changes in the regulatory environment so they can keep one step ahead of their clients and warn them in advance about changes that will impact them. If you are an adviser with a client who is withdrawing an income directly from their pension fund then please read on. There is a real risk that your client may face a significant reduction in the amount of income they can withdraw from their fund. Maximum income limits Under the post A-Day rules, the maximum income tha...
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