In This Chapter
Discovering the biggest pension changes for a century
Understanding tax rules
Calculating your needs
Creating investment strategies
Returning to basics with traditional annuities
The tearing up of practically all the rules about what you can do with your personal pension pot when you retire has been dubbed the biggest pension change for 100 years. That’s only a slight exaggeration: it’s really only the most important rule change in the past 95 years. But it’s so mega that you’ll have to excuse the hyperbole of an extra five years or so.
I wrote every other edition of Investing For Dummies with old, restrictive pensions rules in mind. But the new setup announced in March 2014 radically altered the pensions picture in the UK, so out with the old and in with the new: this entirely new chapter that helps you plan for your retirement.
Other than those who are already drawing a pension (and a large number have put this off ...