IFAs now have less than 698 days, 11 hours, 58 minutes and 31 seconds to get their act together and prepare for pensions simplification introduction, according to the Scottish Widows' pensions simplification countdown clock.
IFAs will not have to hold a G60 qualification when advising clients on enhanced protection, even though it could effectively force clients to leave their corporate pension schemes.
The Finance Bill just published confirms the lifetime allowance will start at £1.5m in the 2006-7 fiscal year, rising to £1.8m by 2010-11, with an annual allowance of £215,000 in the first year, rising to £255,000 over the same period.