PENSIONS ADVICE ALLOWANCE INTRODUCED

Following consultation, the government is to introduce a new Pensions Advice Allowance.

The Pensions Advice Allowance, also called the PAA will be introduced from April 2017.

This allowance was first announced in the 2016 Autumn Statement and will allow individuals to withdraw up to £500 three times per year from their pension pots – tax free – to put towards the cost of receiving regulated retirement advice.

 

Further information

Should this affect you and you wish to find out more then please visit: www.gov.uk/government/publications/pensions-tax-pensions-advice-allowance/pensions-tax-pensions-advice-allowance

 

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