Freedom and liberation - what employers need to know about the pensions tax changes coming in April 2015

03 March 2015

The changes to the tax rules for defined contribution (DC) pensions announced in the Budget on 19 March 2014 and the changes to pensions death taxes announced on 29 September 2014 are mostly coming into force on 6 April 2015.

The changes apply to accessing and passing on savings in DC arrangements but they will also impact defined benefit (DB) arrangements as members may choose to take transfers to benefit from the new “DC freedoms”.  Trustees and employers with both DC and DB pension arrangements need to be prepared.