Getting personal

The next step in the ongoing reform of pensions takes place soon with the issue of a pensions bill setting out in detail what personal accounts will look like. While this new type of pension will not be introduced until 2012, it is important that advisers start to consider its impact when reviewing existing schemes and setting up new ones. The changes being introduced from 2012 are both an opportunity and a threat to advisers operating in the corporate market. The opportunity arises as all employers will have to automatically enrol their staff into either a personal account or a good qual...