Avoiding A-Day trip ups

The clock is counting down on a pension rule change that could easily catch out members of small self administered schemes who chose – or were compelled – to use the A-Day reforms in 2006 to take control of their own administration. By 5 April 2011 all SSASs are required to have adopted these A-Day rules. Members of those schemes that have not could potentially face deregistration, tax charges or restrictions on the benefits that can be taken. The change gives financial advisers who were involved in setting up SSASs for employers before A-Day, or those who have clients who are SSAS...