Investments  

James Hay prepares for pension changes

James Hay will introduce flexible options for the platform’s new and existing clients to capitalise on the incoming pension changes.

The platform company announced that from 6 April 2015, when the pension rules announced in the March budget come into effect, clients will be able to use different forms of drawdown, take a lump sum from uncrystallised funds and manage their income online.

For some of the services clients will have to meet certain criteria such as being of the minimum pension age.

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James Hay chief executive Alastair Conway said: “Up until the Budget, changes in pension tax legislation introduced in the recent past had done very little to promote pension saving.

“But 2014 was the year in which pensions finally became sexy.”