Published:
April 15, 2015
Burnham firm's warning after surge of interest in pension withdrawals

A Burnham-On-Sea wealth management firm has issued a warning to local people following a surge of interest in pensions withdrawals.

Watermark Wealth Management has spoken out about the government's new pension freedom rules.

As of the 6th April, individuals aged 55 or over were given greater flexibility to access their pension savings, meaning they can now have the freedom to withdraw their pension, with some of it being tax-free cash.

They are urging people to seek advice, or run the risk of incurring unnecessary tax charges, because there are many different options that can be taken when it comes to withdrawing pension funds.

Tony Thompson, a senior pension specialist at Watermark, pictured, added: "We have already seen an increase in the number of enquiries with people wanting to withdraw a large part of their pension fund."

"However, when we have explained the tax consequences of doing so they invariably change their mind. It is vitally important that people seek professional independent financial advice to avoid serious unintended tax consequences, whether that be through Watermark or one of the other well qualified firms in the town; just take advice!"

Watermark is offering a free of charge first meeting with an adviser regarding pension withdrawal options.

 


Bookmark and Share

Search Burnham-On-Sea.com|Add Burnham-On-Sea.com to your Bookmarks|Send a mail from Burnham-On-Sea.com|Print this page|Back to previous page|Discuss this article

Burnham-On-Sea Seafront Webcam
Burnham-On-Sea Webcam
24-hour live pictures
See live images of the seafront and beach with Burnham's Webcam.Click here

Burnham-On-Sea Shops
Burnham-On-Sea Shopping Guide
Buy in Burnham!
Support local traders by shopping in town - see our A-Z index of businesses.Click here

Burnham-On-Sea What's On
What's On In Burnham-On-Sea
Things to see and do
Check the constantly updated Burnham-On-Sea.com calendar for what's happening. Click here

Follow us on Facebook Follow us on Twitter See us on YouTube