We have been asked about the various pension flexibilities and so have produced a short list of available resources and information which we hope are useful.
In compiling this we want to stress
- It is not possible or proper for us, or indeed Colleges, to advise individuals on financial decisions in relation to their pensions
- All individuals should be encouraged to get professional financial advice that can address their individual position. Everyone’s circumstances will be different
- We are clear that changes to the pension taxation arrangements are required to solve the problem properly and will continue to lobby for these
- However, we do believe that College members should explore the flexibilities available to see if they can ameliorate the position. Relying solely on a change to national taxation arrangements which may take some time to materialise, if it does at all, may not be the most prudent approach