How To Understand A-Day
| Money : Saving A Day was the obscure name given to the 6th April 2006 in the UK where new rules to simplify pensions apply. The key changes are around flexibility and freedom with regard how individuals save for retirement. For instance, people can save more towards a pension each year whilst getting more help from the taxman as it were. The tax relief made on savings in a pension are one of the most attractive features of a pension. A-Day also means that more money can go into a pension each year, with tax relief still available within certain limits. The minimum retirement age under A-Day is set at 55, whereas previously this was just 50! For more information about A-Day there is good information available at www.dwp.gov.uk/lifeevent/penret/penreform, and also the relevant information on the www.hmrc.gov.uk site.
 Questions about pensions:
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