Pensions - Articles - Pensions industry 'breathing a collective sigh of relief'

 Commenting on the pension outcomes of today’s Autumn Statement, Malcolm McLean, senior consultant, Barnett Waddingham, says:

 “Apart from the proposed withdrawal of the 55% tax charge on inherited pension previously announced, the Autumn Statement contained no further significant changes to pensions.

 “Given the radical changes that were announced in the Budget earlier this year, it comes as somewhat of a relief that the Chancellor has refrained from interfering with pension rules any further ahead of April 2015.

 “There is still a lot of work to be done to implement and educate the public about the Budget changes, and the pensions providers and indeed the pensions industry as a whole will no doubt be breathing a collective sigh of relief due to the uneventful nature of today’s announcement.”