Delegates at the National Associations Pension Fund conference were told recently that the Government would use rolling targets to cut unnecessary pensions regulation. A rolling plan of simplification will focus on removing or merging regulation into a more manageable form, The Government have admitted that they could not achieve this goal on their own, and have established the 'Better Regulation Stakeholders Group' which is made up of members drawn from the pensions, insurance and financial services industries.
Our view
Nearly 50 different peices of legislation in the last 40 years affecting pensions and the most recent giving the most comlex set of transitional rules, the damage is done. Visit the pension simplification centre to learn more just on the new rules starting in April 2006.