The second pensions white paper on personal accounts is now expected to be released on 12 December.
It was thought the document was scheduled to be released in the first week in December - thought to be Monday 4th - following a statement made by the Department of Work and Pensions (DWP) in its response to a report on pensions reform by the Work and Pensions Select Committee.
However, industry sources suggest the white paper is thought to be cheduled for the following week and will be published on Tuesday 12nd December - almost a week after the Pre-Budget report.
Although details of the report are still unclear, sources say “the white paper will be white on personal accounts, but will be green on some subsequent issues, such as advice”, and how this will fit into the new regime.
The paper is also expected to include details of the type of model the government has chosen to deliver personal accounts, along with the possibility of further details on the proposed Delivery Authority which the government is intending to announce officially in the first of two Pension Bills.
However, it has not thought the week’s delay will make any significant changes to the government’s intended timetable for personal accounts, as set out in its response to the Work and Pensions Committee, which would see a 12-week consultation period ending in March, with the second Pensions Bill estimated for November or December next year.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Nyree Stewart on 020 7968 4558 or email [email protected]IFAonline
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