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Pension Freedoms. Are they for you?

But what is the reality? It appears that blocks are being put in the way by large pension providers to people trying to access their money. Companies are concerned that the amount of money that could be potentially drained from their holdings would make them vulnerable to collapse.  

In response the providers are putting in place restrictions that prevent savers from having bank account like access to their money. These restrictions include long delays, high charges, misinformation or just saying to no to that type of service

Mr. Osborne’s proposals are now in danger of being sunk by the pension industry’s commercial interests. While some companies are clearly keen to capture business and compete in the new world of accessible, flexible pensions, other providers, mainly the large insurers that for decades profited under the old regime, are dragging their feet.  If you are feeling trapped by what is happening with your pension, Blacktower can help you. We have enormous experience in dealing with providers and can offer ways of transferring your money, in lots of cases to other providers which are tax efficient and with the freedoms you would hope for. We can plan for you an individual response that suits your needs.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Annuity freedom – CANCELLED!

The Government has revealed that the proposed annuity flexibility plan which was announced in April 2015 – along with all the new pension flexibility changes that are now in force – is not going to go ahead.

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Tax Return Deadlines for Expats in the Netherlands

StopwatchIf your expat financial adviser in the Netherlands has not alerted you to the fact already, you should be aware that the deadlines for Dutch tax returns are looming. Depending on your circumstances, these are as follows:

  • 30 April – This is the general deadline and applies to the majority of taxpayers in the Netherlands
  • 1 July – This is the deadline for most non-residents, including those who are newly arrived in the Netherlands as well as all other parties who qualify as M Form taxpayers (those who have only spent part of the tax year in the Netherlands due to immigration or emigration)
Read More

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