Steve Bee

The confusion and uncertainty around the UK pensions system, will continue for at least five more years, despite government efforts at simplification, the head of pensions strategy at Scottish Life claims.

The Personal Finance Society will host its inaugural Conference, following its merger between Insurance Association (LIA) and the Society of Financial Advisers (SOFA) at the start of the year.

Comments by the head of the government's pensions commission to a Sunday paper may have shaken the foundation on which the government has pinned its hopes to solving the UK pension crisis, albeit gently.

Steve Bee, head of pensions strategy at Scottish Life, says in a new note that rules taking effect on 6 April 2006 could affect some 10 million company pension scheme members to seek advice because of "concurrency".

Tenet will host an A-Day function to help its advisers get to grips with any potential impact pensions simplification may cause.

Much attention has been given to high earners being those who will be most affected after A-Day, however, amendments made after 6 April 2006 will leave more and more people requiring ‘sensible' pensions advice, says Bee.

Pension compulsion could see a "sad ending for the most successful voluntary pension system in Europe" - that is if people get over the confusion of what pension compulsion really means, says Steve Bee.

A major challenge facing state retirement income provision is to eliminate the current system of means-testing, suggests comments in response to the Turner report.

Government tinkering with the Pensions Bill has avoided sticky moments for UK pension schemes with fewer than 100 members, says pensions guru Steve Bee.