A Budget Brimming With Change!
Much of the budget will have been publicised by now and we at Tarvos are as surprised as any at the significant changes made to pensions. 2015 will be a defining year for pensions with most of the current restrictions when taking benefits at retirement swept aside in favour of complete flexibility and individuals’ right to decide what to do with their pension fund. Alongside that we also saw changes to the personal allowance, Individual Savings Accounts and the saving rate band of income tax. We set out the key changes affecting financial planning and our thoughts.