I know this isn't as exciting as omelettes, but are the reforms starting next April i.e lamborghini pensions, definitely going ahead?
I'm already planning where to run the race horse I'll be buying. If it wins The Derby, my retirement should go pretty well. If not, I guess I'll have to sign on the jam roll.
Is it definitely going ahead though? If it does, that will be the QROPS industry kind of ****ed, which in turn will mean I will need to work a lot harder to make money. Surely if it does go ahead, it will mean that the Government won't get the 55% of the pension on death, if somebody takes it all out in a oner?
I got excited about this during the live budget speech - but everyone told me to shut up and bore off
I hope it doesn't happen, seems far to good to be true for the public and it will cost be on average about 6k a client if they choose not to do QROPS and just take the whole whack out at once.
As far as I understand it (which is about 30 mins of research all in) you will still get taxed on taking your full whack out - so it will only be the annuity sellers taking the hit, rather than the Government?
