IFAs will not have to hold a G60 qualification when advising clients on enhanced protection, even though it could effectively force clients to leave their corporate pension schemes.
Speaking at Scottish Equitable's pensions roadshows in London yesterday, pensions development director Stewart Ritchie told intermediaries they will not have to have passed the G60 examination when giving advice on enhanced protection. This protection option is one of the transitional arrangements offered by the Inland Revenue as a part of the new pensions simplification rules coming into effect on 5 April 2006. It will give people full protection from the recovery charge on the fund at vesting. But at the same time, all pension accrual must cease when the new rules come into force, f...
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