Payment Methods and What You Should Know - Standing Orders

This post is the fourth in my Payment Methods and What You Should Know series.

Standing Orders

Tweet

These are the best method to use for regular scheduled payments, simply because it is a kind of payment that is

New Rules on Pension Annuities

By the end of this week, the rules governing annuities in the UK will change.

 

Previously, the rules in force for using your pension pot were as follows: 

• You could cash out a maximum lump sum of 25% from your pension pot
• The remaining 75% of the pot HAD to be converted to an annuity by the time you reached 75