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The new pensions advice allowance: implications for trustees

27 March 2017

As announced in the 2016 Autumn Statement, pension schemes may (but will not be required to) allow members to withdraw up to £500 from their defined contribution (DC) pension pots to pay for financial advice about retirement. The payment will be known as a "pension advice allowance".

The government has recently issued final regulations, which come into force on 6 April 2017.

Details of the allowance, and the conditions which will apply to it, are set out in this briefing note.

Click here to read.

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