Clerical Medical has published the second in its series of advice modules for intermediaries.
Entitled ‘Pension Scheme Review’, Clerical Medical says the second pensions module takes advisers through the range of key changes to occupational pensions schemes, such as trustee responsibilities and member benefits, to determine whether they still best suit the needs of the client.
The series of four advice modules is designed to be an easy-to-use practical reference guide which allows advisers to review and evaluate their clients' occupational pension schemes following A-Day, with the packs available upon request from the Clerical Medical sales team.
Clerical Medical says it has decided to produce the guides in response to the success of its 2005 'Pre A-Day Opportunities' manual, as well as the demand from intermediaries for more practical support and information from pension providers.
The first module in the series: ‘Product Suitability Review’, was published in July and covered key post A-Day issues such as executive pensions, section 32s, retirement annuities, free-standing Additional Voluntary Contribution (AVC) plans and personal pensions.
Martyn Nethercott, channel manager at Clerical Medical, says changes in the sections of the Finance Act and Pension Act which govern the administration of group pension schemes have wide-ranging impacts on the companies which operate these plans, no matter how big the employer.
He adds: "Pension simplification removed most of the key differences between occupational and personal pensions. However, the simplification process means there is now a period of adjustment, as changes are made to ensure schemes and processes are compliant with the new legislation. Our advice guides help intermediaries navigate this important review with clients."
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