Pension Advice for A-Day !

Posted by Elizabeth_100656

April 3, 2008

It has been claimed that A-Day is set to be the biggest shake-up that pensions in the UK have experienced in over 60 years but it has also left many wondering what A-Day is and what pension advice they will need to prepare for it. Below we take a closer look at A-Day and what it might mean for the average worker.

What is A-Day?

A-Day refers to the changes to the UK pensions which is set to occur in April this year.

What is the aim of A-Day?

The main idea behind A-Day is to “increase choice and flexibility for all”. The government’s broad aim in the introduction of the new pension rules in April 2006 is to simplify the existing pension rules. The rules will affect all pensions including personal and work pensions. In a nutshell, A-Day aims to take the pressure off agencies that need to give pension advice by actually simplifying the whole pension system.

What pension changes will occur with A-Day?

Financial Planning