Pension News Advisors Get In Tune For Pensions Change 2998164
Advisors get in tune for pensions change
22 June 2004
The pack, which will be available from July 2nd, includes a summary of pending pensions simplification legislation as well as two case studies, highlighting two of the issues facing clients post-implementation of the new rules.
Mike Brown, head of pensions and retirement at AfI, said: “According to the National Audit Office, up to 10,000 people could be worse off following pensions simplification – that’s twice the number the government originally predicted – and experts predict that in total, up to 600,000 people could suffer over the next 20 years.”
He continued: “With the right advice, many people will be able to minimise the impact of the changes on their pension benefits – and protect the amount of tax-free cash that they can draw at retirement.
“But they will need to act quickly.”
AfI’s simplification pack comes as a part of the firm’s ongoing campaign on pending legislation.