If you want to spend your pension cash on a Lamborghini, then the luxury sports car maker is revving up a special edition aimed at you.
Only 20 prestige Lamborghini Reventon left the production line, but the car maker is reportedly cashing in on comments by former pension minister Steve Webb.
When the flexible access pension overhaul was announced, he famously told reporters that if pensioners want to buy a yellow Lamborghini with their pension cash, then they are free to do so.
Now, Lamborghini is lining up a limited special edition of the Reventon for British pensioners only – provided they can prove they are over 55 years old and have a defined contribution pension.
Prospective buyers have to register an interest with the car maker.
Powered by a 6.5 litre V12 engine rated at 650 horse power, the super sports car can hit 60 mph from a standing start in 3.4 seconds and accelerate to a top speed of 211 mph.
Modifications for the special edition include a rug to go over cold legs and a radio tuned to Classic FM, according to one motoring commentator.
If you need to ask the price, then you probably cannot afford to buy one…
Lamborghini does not post prices; however, one of the original 20 is for sale in Canada with an asking price of around £1 million.
“Designed with style and aeronautics in mind, this car is a masterpiece of art as well as design,” says the car maker’s web site.
Despite the speculation, buying a Lamborghini is well out of reach of all but a handful of British retirement savers.
Assuming a price tag of around £1 million, drawing the cash from a pension to pay for the car would involve taking a lump sum of around £1.4 million – of which about a third of a million would be tax free and a sum approaching £350,000 would go to tax.
As the average British pension pot is around £38,000, the car is well out of the price range of all but the wealthiest over 55s.
The Lamborghini web site explains 120 hours of care is lavished on the car exterior – and yes the colour range does include yellow – including matching brake callipers fitted behind the alloy wheels.