Rachel Vahey

A-day has been part of my life for the last five years. I have been involved with its development, from its original launch in the Green Paper in December 2002 (Simplifying the taxation of pensions: increasing of choice and flexibility for all).

The activity level in pensions lobbying circles has recently edged up a notch or two. We received the White Paper on personal accounts just before Christmas, and now are turning our attention to drafting a response by the deadline of 20th March.

Let's face it - advising someone on whether they should transfer their deferred benefits out of a final salary scheme is one of the trickiest things for pensions advisers.

I am beginning to dread the use of the words 'simplify' and 'simplification' by the government. Often, it leaves me feeling more confused than ever.

It's shaping up to be an autumn crammed full of government announcements on pensions reform, including personal accounts.

Hindsight is a wonderful thing. Just think about the better decisions we could all make if we knew exactly how things would turn out in the end - decisions on careers, houses, fashion styles!

I like working in pensions. This completely amazes people who are not connected with the industry, but it's true. Part of what I like is that things are constantly changing and there's always something different to talk about.

Pension officials say current government proposals for pension personal accounts auto-enrolment are likely to increase administration costs but still will not reach the main target market.

Despite over 60% of advisers believing transfer penalties are the biggest obstacle to pension asset consolidation, transfer business is on the increase.

Sometimes, it feels as though there are no surprises in pensions anymore.