Summer already? Not quite, but we have at least got longer days, and some slightly warmer weather, albeit at the point of writing this it’s the day after a deluge that whilst not long was briefly wet enough to leave us thinking about building an ark.
The dust has settled now from the spring budget, and the big news was genuinely unexpected for once. After considerable leaking about upcoming adjustments to the lifetime allowance, it was instead completely abolished, and the maximum annual allowance increased by 50%, which is a decent chunk by any measure.
This has had a positive effect on many of our client’s retirement planning situations, and this episode of E-SmartMoney, our periodic magazine, has several articles on how it might affect you. If you do benefit, and the change has saved you from an impending lifetime allowance change, we would perhaps suggest not waiting too long to act, as it is very possible that there will be further legislation on the matter after the next election.
Of course, pensions are not the only tax advantaged wrapper available, and you can always rely on the trusty ISA as a way of building funds for the future, and we look at the advantages this can bring.
If you’d like to learn more about the fantastic service Walden Capital can provide, then get in touch, but in any event.