Trowbridge finance man quizzes pensions minister
11:00am Sunday 4th May 2014 in News
An award-winning independent financial advisor from Trowbridge has challenged the Pensions Minister live on BBC1 about proposed pensions changes.
Brian Hill, of Jones Hill, appeared alongside Pensions Minister Steve Webb on the Sunday Politics Show, and gave his opinion about the proposed changes to Britain’s pension system, which were announced in the 2014 Budget.
He opened the debate by directly challenging the Budget headline, which stated: ‘No one will ever be forced to buy an annuity ever again.’ Mr Hill said: “No one under the age of 75 has been legally required to buy an annuity for almost 20 years and for those over 75 it is 10 years.
“When I made this simple yet important point during the debate, the Minister admitted it was correct. I remain concerned that the Minister in charge of setting pension policy didn’t appear to know the basics.”
In principle, Mr Hill welcomes the proposed flexibility to pensions, which will allow people to choose how and when to spend their pension. However, he pointed out to the Minister that the Government now expects to receive £1.2bn in extra income tax revenue every year, something that has not been made clear to consumers.
For pension and financial advice contact Mr Hill on 01225 775923, email brian@ joneshill. co.uk or log on to his website at www. joneshill. co.uk