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Queen’s Speech 4 June 2014

The Queen's Speech of 4 June sets out the Government's proposals for the year ahead.  Here's our summary of the bills covering or relating to pensions and savings:

  • The new National Insurance Contributions Bill will simplify the collection of National Insurance contributions for the self-employed.
  • The new Pension Tax Bill will make the changes to the pension tax rules which were announced in this year's Budget, the intention is to help give people over the age of 55 greater freedom and choice over how to access their defined contribution pension savings.
  • The new Private Pensions Bill will provide wider choice building on the concept of “Defined Ambition” pensions and “Collective schemes”. The Bill will also include proposals on ensuring people will have access to independent and impartial guidance
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