A-Day creating greater work load for IFAs

A survey of 500 advisers carried out by Skandia revealed 50pc had seen an increase in the amount of pension business they write. However, only one third of advisers thought the introduction of pension simplification on A-Day had made the UK’s pension regime simpler, with 43pc admitting the pension regime had become far more complex. The burden of compliance and administration had been experienced by 45.7pc of those surveyed, although the majority, 51.8pc, said it had made no change. Skandia suggested concurrency rules and the annual allowance that would have opened up new options f...