Insurers unclear on post A-Day Sipp charges

While discussing how well the effects of A-Day had been communicated to consumers, the panel of eight intermediaries revealed although the ongoing release of legislation was making things difficult for advisers, insurers are not helping. Outlining the problems advisers face with the new rules after A-Day, Andrew Baggott, from Excalibur, stated only six insurance companies have said they will allow a notional payment into a section 32(S32) transfer plan after A-Day. Speaking at IFAonline.tv's second IFA Forum - Tackling the pensions crisis - he added unless more insurers made their pos...