In one of the four webinars inclusive in 2015 Law Management Section membership, Howard Hackney discusses the implications, for both salaried and equity partners, of pensions reforms that will be fully in place by April 2015
In the most far-reaching overhaul of pensions since 1921, George Osborne announced in the last Autumn Statement that pensioners would be free to do what they like with their retirement savings as compulsory annuities would be scrapped. By April 2015 all remaining tax restrictions on access to pension pots will be scrapped. This webinar will examine what this will mean for both salaried and equity partners.
Coverage will be given to:
- Drawing on the fund
- Phased retirement or income drawdown
- Impact of GAD rates
- Decisions to take on taking benefits before age 75
- Decisions to take at age 75
- Guaranteed annuity options
- Avoiding buying an annuity
- Tax implications of taking a lump sum
- Salaried partners – what to look out for.
This webinar took place on 22 January 2015, but you can listen again via the link below.
Howard Hackney, partner, Howard Hackney LLP
Howard left Grant Thornton UK LLP in 2008 where he had been a partner for over 25 years to establish his own boutique practice. During his time at Grant Thornton he was head of professional practices for the North West and head of family businesses for the UK. At Grant Thornton he had a variety of roles including office managing partner, North West regional marketing partner and membership of the partners appointments panel. Howard specialises in advising mid market professional practices and family businesses. In 2002 he won the CBI’s national award as “Best Business Adviser”.
Howard’s current focus is providing “special projects” advice to firms with up to 20 partners. His experience extends from highly profitable sole practitioners to advising 3 of the top 100 law firms. Recent assignments have included sales of law firms, partnership disputes, fund raising, LLP and limited company conversion, ABS conversions and acquisitions. He has presented a number of webinars for the Law Society on topics including buying and selling a personal injury practice, managing your partner resource, and LLP or limited company?