Abbey for Intermediaries has set out a reminder note for intermediaries to bear in mind regarding the introduction of new pensions legislation.
AfI says the Pensions Bill is still on track to become law in time for introduction by the next fiscal year, 5 April, 2005. However, according to AfI’s note the following measures will be delayed until the following year, 6 April 2006: commutation of contracted-out rights, ability to vest protected rights at the same time as non-protected rights (ie, before age 60), withdrawal of the requirement that all occupational pension schemes must allow for the payment of additional voluntary contributions, members who leave pensionable service after more than 3 months and less than 2 years...
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