Finance Act 2011: pensions provisions: relaxing age-75-related requirements

This note summarises the legislation introduced by the Finance Act 2011 (FA 2011) that  abolished annuitisation requirements and other rules that previously obliged members of registered pension schemes to take their benefits by age 75. As well as looking briefly at the new flexible and capped drawdown regimes, the note considers the new provisions concerning the tax treatment of lump sums and death benefits payable by registered pension schemes. The changes took effect from 6 April 2011.


 

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