A-Day rules have increased complexity

Skandia says a survey of 500 advisers reveals just one-third think the new tax regime introduced on 6 April last year has actually made the UK’s pension regime simpler, with 43% claiming it is now more complex, and 24% suggesting it has made no difference. In addition 45.7% of respondents say pension simplification has increased their compliance and administration burden, with just 2.6% claiming their workload in these areas has actually decreased. However despite this, Skandia points out 50% of advisers have reported an increase in pensions business, and 47% have seen no change, althoug...