Pension Advice Allowance

April 2017 will see the appearance of the Pension Advice Allowance, allowing people to withdraw up to £500 tax-free from their pension pot to help pay for advice. A consultation is currently taking place around the specifics, and it is likely this will also be available to the under 55s, and people will be able to withdraw £500 on several occasions to help with advice at different parts of their retirement.

At Investment Solutions we welcome the government initiative in potentially allowing existing policyholders to fund the cost of advice this way, however, why wait till next year?

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