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Thurs 27 Mar 2014

Overhaul of UK pension system

With effect from 27 March 2014 those individuals contemplating retirement or cashing in their pension savings will be able to choose whether to buy an annuity, cash in small pension pots,or even take the entire pot as a lump sum. There may be tax consequences of any decision.

The choice is not always simple and investors should take impartial advice before making any decisions which may affect not only their income but that of a partner or spouse in the longterm future.