On balance a change for the better

A-day has introduced a number of advantageous changes although some of these, such as alternatively secured pensions and pensions term assurance, might now be taken away

The new pensions simplification regime is now nearly one year old. So it is a good time to look back and see where we have been, and to try and see where we might be going next. The historic problems in the UK's pension regime were caused by repeated layers of change, one on top of another. A-Day promised simplification of these layers for providers, advisers and investors. Once we had endured the initial pain barrier of adapting to the new rules we could sit back and reap the rewards of a simpler pensions world. But it did not turn out like this. Some of the simplification gains for the ...