Proposals to allow pensioners to cash in annuities

Pensioners would be able to surrender annuities for a cash lump sum under proposals announced by Steve Webb, Pensions Minister, affecting potentially up to 5 million pensioners in the UK and around £11bn annual pension income.

Pension carry forward rule

The maximum amount you can contribute to a pension and benefit from tax relief is limited by the annual allowance of £40,000 (2014/15) or your earnings if lower.

Pensioner Bonds from NS&I

Following the Autumn Statement, National Savings and Investments (NS&I) has announced the launch of new bonds for investors aged 65 and over in January 2015.