Sunday, March 01, 2009

The law of pots

I was under the impression that there are very strict laws about what anyone can do or not do with their pension pot once they have got it

Partly as a quid pro quo for the favourable tax treatment. Partly for our own good, to stop us going mad & splurging a lump sum rather than parking it safely in an annuity which will keep us as long as we shall live

Or did Gordon Brown change the rules when he conducted that raid on pension funds

And will he have to change them to have any hope of getting his hands on the one which is now in the name of Fred the Shred