Pension Advice Allowance - Excellent news for employee benefit providers
Written by Charlie Palmer on 10/08/2018

From April 2017, clients will be able to utilise their pension pots to pay for retirement planning advice to the value of £500 in any one tax year.

  • It can be used three times, but only once in a tax year
  • It can be used by anyone, at any stage of their life
  • It can only be used by clients who hold defined contribution 

In addition, the Treasury has confirmed it is introducing an income tax exemption of £500 for employers who provide pensions advice for their employees. This can be combined with the employee's own £500 advice allowance to cover £1,000 of pension advice costs. Excellent news for employee benefit providers.

All news