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

Reeves nominates ex-MPC member Jonathan Haskel as next OBR chair

Reeves nominates ex-MPC member Jonathan Haskel as next OBR chair

Imperial College London professor

clock 23 June 2026 • 2 min read
Politicians urged to address long-term sustainability of state pension triple lock

Politicians urged to address long-term sustainability of state pension triple lock

Aegon says the triple lock debate is ‘not a simple case of keep it or scrap it’

Holly Roach
clock 23 June 2026 • 2 min read
Toolkit launched to promote the value of the LGPS

Toolkit launched to promote the value of the LGPS

Toolkit features materials such as video, posters and social media posts

Holly Roach
clock 23 June 2026 • 1 min read
Trustpilot