Budget 2014: Govt to scrap restrictions on pensions access - UPDATE 6

Helen Morrissey
clock • 1 min read

The government is set to scrap restrictions on how people take pensions income as part of a radical overhaul of tax relief.

From 27 March this year, the government will slash the minimum income requirement for retirees entering flexible drawdown from £20,000 to £12,000 and raise maximum GAD limits for those in capped dr...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

A 'lot of work needed' from the industry to deliver on changes, Emma Douglas says

A 'lot of work needed' from the industry to deliver on changes, Emma Douglas says

Douglas says the industry is at a ‘pivotal’ moment with lots of factors in play

Holly Roach
clock 18 March 2026 • 1 min read
Buzz: Is trust in pensions too low?

Buzz: Is trust in pensions too low?

Trust in pensions, employee financial education and investment mandation

Professional Pensions
clock 18 March 2026 • 1 min read
News Digest: Pension contribution cuts to save councils millions

News Digest: Pension contribution cuts to save councils millions

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 18 March 2026 • 1 min read
Trustpilot