Agile IT needed as rapid regulation change becomes the norm

'Gone are the lengthy consultation and rule-setting cycles that often took several years'

clock • 6 min read

We are moving into a new age of speed, where both regulatory disclosure and tax rule changes must be implemented more swiftly than ever before, writes Paul Muir

Keeping pensions technology up to date with financial regulatory and pensions tax reforms has become tougher of late. You only have to look at the speed and complexity of recent changes demanded by HM Treasury and the Financial Conduct Authority to realise this. Firstly, we had the announcement of the abolition of the lifetime allowance (LTA) in the Chancellor's Spring Budget 2023. The LTA tax charge was removed on 6 April 2023 (22 days after it was first announced). It was abolished at the start of the new tax year on 6 April 2024 after eighteen years of existence. There is no denyin...

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