{"id":1984,"date":"2024-01-22T16:43:31","date_gmt":"2024-01-22T16:43:31","guid":{"rendered":"https:\/\/www.hansfordbell.co.uk\/?p=1984"},"modified":"2024-01-22T16:50:46","modified_gmt":"2024-01-22T16:50:46","slug":"changes-to-uk-pension-rules-2024","status":"publish","type":"post","link":"https:\/\/www.hansfordbell.co.uk\/changes-to-uk-pension-rules-2024\/","title":{"rendered":"Changes to Pension Rules 2024"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-stretch fusion-flex-justify-content-center fusion-flex-content-wrap\" style=\"max-width:calc( 100% + 4rem );margin-left: calc(-4rem \/ 2 );margin-right: calc(-4rem \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_3_5 3_5 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:60%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:60%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-separator fusion-no-small-visibility fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-top:2rem;margin-bottom:3rem;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:rgba(53,52,36,0.2);border-color:rgba(53,52,36,0.2);border-top-width:2px;\"><\/div><\/div><div class=\"fusion-title title fusion-title-1 fusion-sep-none fusion-title-text fusion-title-size-four bio-name\" style=\"--awb-text-color:#990000;--awb-margin-top:0px;--awb-margin-right:0px;--awb-margin-left:0px;--awb-margin-top-small:0px;--awb-margin-right-small:0px;--awb-margin-left-small:0px;\"><h4 class=\"fusion-title-heading title-heading-left\" style=\"margin:0;\">The new UK pension rules announced in 2023 allow you to enhance your retirement savings. This article covers three essential changes:<\/h4><\/div><div class=\"fusion-text fusion-text-1\" style=\"--awb-text-transform:none;\"><ul>\n<li>An<a href=\"https:\/\/www.gov.uk\/tax-on-your-private-pension\/annual-allowance\"> increase in the annual allowance<\/a><\/li>\n<li>The <a href=\"https:\/\/www.gov.uk\/government\/publications\/abolishing-the-pensions-lifetime-allowance\/abolition-of-the-lifetime-allowance\">removal of the lifetime allowance charge<\/a><\/li>\n<li>A notable <a href=\"https:\/\/www.gov.uk\/government\/publications\/pension-schemes-newsletter-148-march-2023\/pensions-schemes-newsletter-148-march-2023#:~:text=The%20minimum%20reduced%20annual%20allowance,%C2%A34%2C000%20to%20%C2%A310%2C000.\">rise in the money purchase annual allowance<\/a><\/li>\n<\/ul>\n<p>In this article, we will identify what each of these changes are. Then, we aim to explain why each change matters to you so you can make the most of this new opportunity.<\/p>\n<\/div><div class=\"fusion-text fusion-text-2\" style=\"--awb-text-transform:none;\"><p><a href=\"https:\/\/www.hansfordbell.co.uk\/contact-us\/\">Hansford Bell<\/a> are <a href=\"https:\/\/www.hansfordbell.co.uk\/what-is-the-difference-between-financial-planning-financial-advice\/\">Chartered Financial Planners<\/a> based in Tavistock. We are not just advisors but partners who help you <a href=\"https:\/\/www.hansfordbell.co.uk\/tips-for-setting-and-achieving-your-financial-goals\/\">achieve your life goals by managing your finances<\/a>. We can take the stress out of navigating changes to the rules about finance, including pension planning. Work with us today; we\u2019ll help steer your path to an optimised financial future. <a href=\"https:\/\/www.hansfordbell.co.uk\/contact-us\/\">Click here now to contact us<\/a> and learn how to make the most of your money.<\/p>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_2_5 2_5 fusion-flex-column\" style=\"--awb-bg-position:center top;--awb-bg-size:cover;--awb-width-large:40%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:40%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\" data-scroll-devices=\"small-visibility,medium-visibility,large-visibility\"><div class=\"fusion-column-wrapper lazyload fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column fusion-column-has-bg-image\" data-bg-url=\"https:\/\/www.hansfordbell.co.uk\/wp-content\/uploads\/iStock-1305249440.jpg\" data-bg=\"https:\/\/www.hansfordbell.co.uk\/wp-content\/uploads\/iStock-1305249440.jpg\"><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-bottom:20rem;width:100%;\"><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-background-color:#fbfaf5;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:calc( 100% + 4rem );margin-left: calc(-4rem \/ 2 );margin-right: calc(-4rem \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-top:2rem;margin-bottom:3rem;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:rgba(53,52,36,0.2);border-color:rgba(53,52,36,0.2);border-top-width:2px;\"><\/div><\/div><div class=\"fusion-text fusion-text-3\" style=\"--awb-text-transform:none;\"><h2>\u00a0Annual Allowance Increase<\/h2>\n<p>The annual pension allowance is the most money you can put in your pension in one year without paying extra taxes. The Annual Allowance, previously set at \u00a340,000, has been raised to \u00a360,000 this year, marking a significant 50% boost. This brings several benefits with it:<\/p>\n<ul>\n<li><strong>Tax-Free Contribution Benefits:<\/strong>\u00a0When you contribute more money to your pension, you can benefit from tax savings. You can contribute from your pre-tax income, reducing your overall taxable income. This might put you in a lower tax bracket. If your employer adds money to your pension, a higher annual allowance lets you maximise this benefit, boosting your pension savings without affecting your pay.<\/li>\n<li><strong>Enhanced <\/strong><a href=\"https:\/\/www.hansfordbell.co.uk\/how-do-you-know-when-its-time-to-retire\/\"><strong>Retirement Planning<\/strong><\/a><strong>:<\/strong>\u00a0You can manage your pension contributions more flexibly with the increased annual allowance. This change may empower you to boost your retirement savings without having to calculate any extra tax under \u00a360,000. Easy planning means saving more money and feeling safer when you retire. It can help pay for your daily needs, medical bills, unexpected events, and lifestyle maintenance.<\/li>\n<li><strong>Considerations for Long-Term Growth:<\/strong>\u00a0Thinking about long-term growth? You can put more money into your pension to help it grow. If you contribute more to your retirement, your funds will grow faster because of compound interest. The more you contribute early on, the more your pension pot can snowball. This will give you an even more significant sum for retirement.<\/li>\n<\/ul>\n<\/div><div class=\"fusion-text fusion-text-4 sm-text-align-left\" style=\"--awb-content-alignment:right;--awb-text-transform:none;\"><p><a class=\"custom-bttn\" href=\"https:\/\/www.hansfordbell.co.uk\/how-we-work\/our-service-propositions\/\">Check out our service propositions<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-3 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-stretch fusion-flex-content-wrap\" style=\"max-width:calc( 100% + 4rem );margin-left: calc(-4rem \/ 2 );margin-right: calc(-4rem \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-3 fusion_builder_column_2_5 2_5 fusion-flex-column\" style=\"--awb-bg-position:center center;--awb-bg-size:cover;--awb-width-large:40%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:40%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\" data-scroll-devices=\"small-visibility,medium-visibility,large-visibility\"><div class=\"fusion-column-wrapper lazyload fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column fusion-column-has-bg-image\" data-bg-url=\"https:\/\/www.hansfordbell.co.uk\/wp-content\/uploads\/iStock-1272117357-e1698405099974.jpg\" data-bg=\"https:\/\/www.hansfordbell.co.uk\/wp-content\/uploads\/iStock-1272117357-e1698405099974.jpg\"><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-bottom:20rem;width:100%;\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-4 fusion_builder_column_3_5 3_5 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:60%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:60%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-top:2rem;margin-bottom:3rem;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:rgba(53,52,36,0.2);border-color:rgba(53,52,36,0.2);border-top-width:2px;\"><\/div><\/div><div class=\"fusion-text fusion-text-5\" style=\"--awb-text-transform:none;\"><h2>Removal of Lifetime Allowance<\/h2>\n<p>Removing the lifetime allowance (LTA) charge is good news for you. The government sets this limit on tax-advantaged pension savings. There is a cap on how much money a person can save in their lifetime without extra taxes.<\/p>\n<p>The removal of the lifetime allowance is a significant change, and here\u2019s what it means in more detail:<\/p>\n<ol>\n<li><strong>No Penalty for Exceeding Lifetime Allowance:<\/strong>\u00a0You won\u2019t be penalised for exceeding the lifetime allowance on your pension savings. Before, if you had too much saved, you\u2019d pay more tax on the extra when you accessed your benefits. This tax charge could be substantial as a deterrent for individuals with larger pension pots.<\/li>\n<li><strong>Encourages Higher Pension Savings:<\/strong>\u00a0This significant change eliminates hefty tax penalties, incentivising you to save more for retirement. Now, you can use your pension funds without worrying about extra taxes from exceeding the limit.<\/li>\n<li><strong>Simplification of Rules:\u00a0<\/strong>Removing the LTA charge simplifies the pension taxation system for you. Before, you had to watch and control your pension savings to stay under the Lifetime Allowance. With the charge removal, your pension planning has one less layer of complexity.<\/li>\n<\/ol>\n<\/div><div class=\"fusion-text fusion-text-6 sm-text-align-left\" style=\"--awb-text-transform:none;\"><p><a href=\"hansfordbell.co.uk\/our-services\/wealth-management\">Growth your wealth with Hansford Bell<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-4 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-background-color:#fbfaf5;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:calc( 100% + 4rem );margin-left: calc(-4rem \/ 2 );margin-right: calc(-4rem \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-5 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-2 fusion-sep-none fusion-title-text fusion-title-size-two\" style=\"--awb-text-color:#353424;--awb-margin-top:0px;--awb-margin-right:0px;--awb-margin-left:0px;--awb-margin-top-small:0px;--awb-margin-right-small:0px;--awb-margin-left-small:0px;\"><h2 class=\"fusion-title-heading title-heading-left\" style=\"margin:0;\"><h2>Increase in Money Purchase Annual Allowance<\/h2><\/h2><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-top:2rem;margin-bottom:3rem;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:rgba(53,52,36,0.2);border-color:rgba(53,52,36,0.2);border-top-width:2px;\"><\/div><\/div><div class=\"fusion-text fusion-text-7\" style=\"--awb-text-transform:none;\"><p>The money purchase annual allowance has increased from \u00a34,000 to \u00a310,000 this year. The money purchase annual allowance (MPAA) is the most you can put into a money purchase pension scheme per year and still get tax benefits.<\/p>\n<p>A MPAA is a savings plan for retirement. You and sometimes your employer contribute money regularly. The pension fund is called a money purchase fund because you contribute money to buy investments like stocks, bonds, or mutual funds. The eventual value of the pension depends on the performance of these investments. When you retire, you can choose different ways to access the money, like getting a regular income or taking lump sums.<\/p>\n<p>The increase from \u00a34,000 to \u00a310,000 represents a substantial expansion in the allowable annual contributions. Similar to the effects of the other changes above, the higher allowance means:<\/p>\n<ol>\n<li><strong>Flexible Contributions:\u00a0<\/strong>You can contribute flexibly to your money purchase pension schemes, customising your savings strategy to fit your financial needs.<\/li>\n<li><strong>Enhanced Retirement Savings:\u00a0<\/strong>You can put more money into your pension with the increased allowance. This could lead to a more significant retirement fund and financial security later.<\/li>\n<li><strong>Tax Efficiency:\u00a0<\/strong>With a more generous MPAA, you can optimise tax efficiency by benefiting from tax advantages on a larger part of your income. This further helps maximise retirement contributions.<\/li>\n<\/ol>\n<\/div><div class=\"fusion-text fusion-text-8 sm-text-align-left\" style=\"--awb-content-alignment:right;--awb-text-transform:none;\"><p><a class=\"custom-bttn\" href=\"https:\/\/www.hansfordbell.co.uk\/how-we-work\/\">How We Work<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-5 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-stretch fusion-flex-content-wrap\" style=\"max-width:calc( 100% + 4rem );margin-left: calc(-4rem \/ 2 );margin-right: calc(-4rem \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-6 fusion_builder_column_3_5 3_5 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:60%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:60%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-3 fusion-sep-none fusion-title-text fusion-title-size-two\" style=\"--awb-text-color:#353424;--awb-margin-top:0px;--awb-margin-right:0px;--awb-margin-left:0px;--awb-margin-top-small:0px;--awb-margin-right-small:0px;--awb-margin-left-small:0px;\"><h2 class=\"fusion-title-heading title-heading-left\" style=\"margin:0;\">Retirement Advice with Hansford Bell<\/h2><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-top:2rem;margin-bottom:3rem;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:rgba(53,52,36,0.2);border-color:rgba(53,52,36,0.2);border-top-width:2px;\"><\/div><\/div><div class=\"fusion-text fusion-text-9\" style=\"--awb-text-transform:none;\"><p>The recent pension reforms give you many benefits. You get a higher Annual Allowance, and you no longer have to pay the lifetime allowance charge. Additionally, the money purchase annual allowance has dramatically increased. As discussed, these changes help you <a href=\"https:\/\/www.hansfordbell.co.uk\/retirement-planning-strategies-for-people-in-their-50s\/\">improve retirement planning<\/a>, avoid penalties, and make taxes more efficient.<\/p>\n<p>Before making pension decisions, <a href=\"https:\/\/www.hansfordbell.co.uk\/what-is-a-retirement-plan-advisor\/\">getting advice from financial professionals<\/a> is a smart move. They can offer personalised guidance based on regulations and your finances. For personalised recommendations tailored to your financial situation, <a href=\"https:\/\/www.hansfordbell.co.uk\/contact-us\/\">contact Hansford Bell today<\/a>. Let us help you navigate these changes and pave the way for an optimised financial future. <a href=\"https:\/\/www.hansfordbell.co.uk\/contact-us\/\">Click here now to take your next steps toward securing your retirement.<\/a><\/p>\n<p>Related articles:<\/p>\n<p><a href=\"https:\/\/www.hansfordbell.co.uk\/income-drawdown-vs-annuities-for-retirement\/\"><strong>Income Drawdown vs Annuities for Retirement<\/strong><\/a><\/p>\n<p><a href=\"https:\/\/www.hansfordbell.co.uk\/why-you-need-bonds-in-your-investment-portfolio\/\"><strong>Why You Need Bonds in Your Investment Portfolio<\/strong><\/a><\/p>\n<p><a href=\"https:\/\/www.hansfordbell.co.uk\/year-end-tax-planning-for-individuals\/\"><strong>Year End Tax Planning for Individuals<\/strong><\/a><\/p>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-7 fusion_builder_column_2_5 2_5 fusion-flex-column\" style=\"--awb-bg-position:center center;--awb-bg-size:cover;--awb-width-large:40%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:40%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\" data-scroll-devices=\"small-visibility,medium-visibility,large-visibility\"><div class=\"fusion-column-wrapper lazyload fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column fusion-column-has-bg-image\" data-bg-url=\"https:\/\/www.hansfordbell.co.uk\/wp-content\/uploads\/IMG_2280-scaled.jpg\" data-bg=\"https:\/\/www.hansfordbell.co.uk\/wp-content\/uploads\/IMG_2280-scaled.jpg\"><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-bottom:20rem;width:100%;\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-8 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-10 sm-text-align-left\" style=\"--awb-text-transform:none;\"><p><a class=\"custom-bttn\" href=\"https:\/\/www.hansfordbell.co.uk\/contact-us\/\">Get in Touch<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-6 fusion-flex-container onoffscreen redpillars redpillarleft redpillarright nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--link_hover_color: #353424;--link_color: #edecdd;--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-margin-top:8rem;--awb-margin-top-small:6rem;--awb-background-color:#990000;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:calc( 100% + 4rem );margin-left: calc(-4rem \/ 2 );margin-right: calc(-4rem \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-9 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:2rem;--awb-margin-bottom-large:2rem;--awb-spacing-left-large:2rem;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:2rem;--awb-spacing-left-medium:2rem;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:2rem;--awb-spacing-left-small:2rem;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-4 fusion-sep-none fusion-title-center fusion-title-text fusion-title-size-two\" style=\"--awb-text-color:#ffffff;--awb-margin-top:0px;--awb-margin-right:0px;--awb-margin-left:0px;--awb-margin-top-small:0px;--awb-margin-right-small:0px;--awb-margin-left-small:0px;--awb-font-size:5rem;\"><h2 class=\"fusion-title-heading title-heading-center\" style=\"margin:0;font-size:1em;\">A Fresh Approach to Financial Planning and Advice.<\/h2><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-top:2rem;margin-bottom:3rem;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:rgba(237,236,221,0.2);border-color:rgba(237,236,221,0.2);border-top-width:2px;\"><\/div><\/div><div class=\"fusion-title title fusion-title-5 fusion-sep-none fusion-title-center fusion-title-text fusion-title-size-four\" style=\"--awb-text-color:#ffffff;--awb-margin-top:0px;--awb-margin-right:0px;--awb-margin-left:0px;--awb-margin-top-small:0px;--awb-margin-right-small:0px;--awb-margin-left-small:0px;\"><h4 class=\"fusion-title-heading title-heading-center\" style=\"margin:0;\"><a href=\"https:\/\/www.hansfordbell.co.uk\">Hansford Bell<\/a> aren\u2019t your average team of financial specialists. We take the time to get to know our clients and help them realise what they want from their life, whether that\u2019s a personal ambition or a financial goal.<\/h4><\/div><div class=\"fusion-text fusion-text-11\" style=\"--awb-content-alignment:center;--awb-text-transform:none;--awb-text-color:#ffffff;\"><p>Our planners are highly experienced and know the industry inside-out. We combine simplified, straight-forward tips and guidance with cutting-edge technology and a comprehensive understanding of your situation. We focus on your finances, so you can focus on living your life.<\/p>\n<p>Want to know more? Talk to us today and we can start making that dream future a reality!<\/p>\n<\/div><div class=\"fusion-text fusion-text-12\" style=\"--awb-content-alignment:center;--awb-text-transform:none;\"><p><a class=\"custom-bttn light-bttn\" href=\"https:\/\/www.hansfordbell.co.uk\/our-services\/\">Our Services<\/a><\/p>\n<\/div><div class=\"fusion-text fusion-text-13\" style=\"--awb-content-alignment:center;--awb-text-transform:none;--awb-text-color:#ffffff;\"><p>See more: <a href=\"https:\/\/www.hansfordbell.co.uk\/retirement-planning-strategies-for-people-in-their-50s\/\">Retirement Planning Strategies for People in Their 50s<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article, we will identify what each of the pension changes are and explain why each change matters to you so you can make the most of this new opportunity.<\/p>\n","protected":false},"author":1,"featured_media":1986,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[8],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Changes to Pension Rules 2024 | Hansford Bell<\/title>\n<meta name=\"description\" content=\"2023 Pension Rule Changes: Higher Annual Allowance, No Lifetime Charge, increased Money Purchase Limit. Secure your future with Hansford Bell. Learn more!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hansfordbell.co.uk\/changes-to-uk-pension-rules-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Changes to Pension Rules 2024 | Hansford Bell\" \/>\n<meta property=\"og:description\" content=\"2023 Pension Rule Changes: Higher Annual Allowance, No Lifetime Charge, increased Money Purchase Limit. Secure your future with Hansford Bell. 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