Standard Life has introduced a set of new initiatives aimed at supporting advisers ahead of A-Day.
The provider has added to its existing range of online tools with a new tax free lump sum calculator to help advisers establish whether a client is likely to be entitled to a tax free lump sum greater than 25% of their pension fund.
Standard Life says this will help advisers take a view on whether they need to act ahead of A-Day to protect the tax free lump sum settlement on behalf of their client.
The provider has also issued new information leaflets to supplement its existing A-Day pack for advisers. The leaflets include information on pensions simplification and self invested personal pensions and small self administered schemes and the relative benefits of both type of contract ahead of A-Day.
John Lawson, marketing technical manager at Standard Life, says: “The A-Day picture is now largely complete and most of the legislation is now in place. While most advisers understand the implications of moving to a single tax regime, it is extremely important that they take action now to make the most of the opportunities it will create. We are committed to providing advisers with as much support as possible.”
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