Look to the immediate future

While Adair Turner's recent report on pensions has led to a lot of speculation on their long-term fu...

While Adair Turner's recent report on pensions has led to a lot of speculation on their long-term future, there are issues of more immediate concern. The Pensions Bill 2004, which comes into force in 2005, could collectively cost employers an extra £400m a year, principally because the government is not going to fund PPF. Financial advisers found to be at fault could face sanctions from both the Pensions Regulator and the FSA, though the bill will also provide new business opportunities. On 6 April 2006 - A-Day - the new single pensions tax regime will sweep away the existing eight ruleb...