Easy come, easy go?

Andrew Tully, Standard Life Pensions simplification has now been with us for just over one year. The original concept of a greatly simplified pension regime in the UK was a much needed and worthwhile goal. However the majority of the industry agrees that the outcome has not matched the original aim. As we moved up to and beyond A-Day areas of complexity were added - tax on alternatively secured pensions, u-turns on residential property and pensions term assurance, and the horrendously complex tax-free cash recycling rules to name but a few. The way in which an employer gets tax relief...