Cash In your small pension pots ?

Changes to the present pension tax rules will allow over 60s to cash in up to two pension pots as a lump sum.·         Changes apply from April 2012.·         Pension pots of up to £2,000 in value can be considered for this treatment.·         HMRC will allow 25% to be taken free of tax. The balance will be taxed at individual’s marginal income tax rate.·         Only two pension pots can be considered. 

Its always a good idea to a state pension forecast. A BR19 request can be made online.

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