Aifa calls for simplification delay

Aifa wants to see the Inland Revenue's proposed simplified pensions regime delayed from April 2004 until April 2006. The trade body, which also wants the proposed lifetime limit into a pension raised from £1.4m to £1.6m, said the delay would be necessary for providers and schemes to make the required IT changes. For its full response to the consultation paper on pensions simplification visit www.aifa.net.