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Money Box Live: Pensions

Tom McPhail, Malcolm McLean and Michelle Cracknell
BBC Radio 4's Money Box Live
Wednesday, 7 July 2010 at 1502 BST on Radio 4 and Online

George Osborne's emergency Budget announced significant changes to the way we save for and draw our pensions.

Proposals include accelerating the increase in the state pension age to 66 and uprating its value in line with earnings, prices or 2.5%, whichever is highest.

Restrictions on pensions tax relief are being considered, by reducing the the annual allowance from £255,000 to around £30,000 or £45,000 from April 2011.

The government will also end the effective requirement to use a pension fund to buy an annuity by age 75 from 2011/2012.

Do you know how much your state pension will be worth and when you will receive it?

Maybe you are considering a personal pension?

What is the best way of investing for retirement?

How much should you save and what charges are realistic?

What are the tax benefits and liabilities?

How do you convert your pension fund into retirement income?

Or perhaps you have a question about jargon?

Vincent Duggleby was joined by:

• Tom McPhail, head of pensions research, Hargreaves Lansdown

• Malcolm McLean, pensions consultant, Barnett Waddingham

• Michelle Cracknell, strategy director, investment group Skandia

Presenter: Vincent Duggleby
Producers: Diane Richardson



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SEE ALSO
External internet links
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The squeeze on pensions
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Q&A: Why raise the pension age?
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Pension age rises 'to speed up'
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BA in pension deal with trustees
22 Jun 10 |  Business
Retirement age 'should be ended'
21 Jun 10 |  Business
Cut now to shape future - Clegg
14 Jun 10 |  UK Politics

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