Planning for A-Day keeps the bailiffs away

21 February 2005
Pensions specialist Winterthur Life UK is urging workers to start planning for A-Day - the day, April 6th 2006, when the new single tax regime for pensions will come into effect.

Mike Morrison, pension strategy manager at Winterthur Life UK, will be running a series of pensions workshops in February and March, aimed at getting people informed about opportunities to make the most of the new scheme, both pre and post-A-day.

According to Mr Morrison, there is a real interest in both the new unsecured pension regime and in the alternatively secured pension, fuelled by disillusionment with the annuity market and the compulsion to buy an annuity at 75.

The pensions expert also considers investment in property an excellent means of safeguarding a retirement income.

"A-Day is only just over 12 months away and there is a lot to be done by then if opportunities are to be maximised, " Mr Morrison advises.

"Maximum funding for the transitional provisions, funding for tax free cash and even commercial property purchase on the current borrowing regime are all time limited opportunities."

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