Major changes in tax legislation dealing with personal pension plans for the self-employed and those in non-pensionable employment were introduced in Finance Act 1999. Although there were no additional changes to the provisions in Budget 2000 these new rules may apply in the future to members of company or employer sponsored pension plans.

The latest issue of employee benefits' consultants Watson Wyatt's Benefits Briefing outlines and explains some of the changes in annuity contracts, contribution limits and retirement options. The taxation implications of the new Approved Retirement Fund (ARF) and Approved Minimum Retirement Fund (AMRF) and annuity purchase versus income drawdown are also explored. The discussion issue is concluded with a brief discussion of the provisions' impact on occupational pension schemes and subsequent developments.

To order a free copy of the brochure, contact Watson Wyatt's Siobhan Guthrie, at (01) 661 6448.