IFAs must act now to ensure clients affected by the change in the minimum pension age do not suffer serious delays which will restrict access to benefits, says Scottish Life.
The insurer says the jump in the minimum age at which benefits can be taken, from 50 to 55, raises significant planning issues for IFAs with clients between the ages of 49 and 54. The change will come into effect on 6 April 2010, but Scottish Life is urging IFAs to act now because transferring pension arrangements can take months to implement. Fiona Tait, business development manager at Scottish Life, says: "I can't stress too much how important it is for IFAs to act now to allow time to identify potentially affected clients, and time to take appropriate action." She goes on to say...
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