Personal Accounts: PADA: Pensions Bill 2007
Published / Last Updated on 15/01/2008
Personal Accounts: PADA: Pensions Bill 2007 - No Surprises There Then.
The long-awaited Pensions Bill 2007 delivered very few surprises for the industry. Although the role of the Personal Accounts Delivery Authority (PADA) has seen some criticism. PADA, will implement personal accounts in 2012 and oversee their maintenance thereafter. They will also have the final say on accreditation of existing schemes.
The Pensions Bill 2007 does propose legislation, which would see ex-spouses receiving protected rights money from the age of 50, down from 60. This was widely welcomed by the industry.
Our view
We suggest pension legislation is kept simple and the new PADA is given clear, easy guidance on implementation and regulation for these new Personal Accounts (low cost pensions).
Useful links:
Learn more about Personal Acounts and PADA and related topics in the Pensions Adviser Channel.
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
