Decline primarily due to steady rise in gilt yields through February
Consultancy says Hatchett will take over from John Dickson on 1 April
Members who hold valid enhanced or fixed protections will be able to accrue new benefits
‘Some rowing back’ may happen as framework is taken apart
Pension allowance reform praised by industry but cost and impact of measures questioned
LTA abolished, AA rises to £60,000 and both MPAA and MTAA increased to £10,000
Some fear the government could alter inheritance tax rules or hike the minimum pensions age to 60
Reports say LTA could increase from £1m to £1.8m and the AA from £40,000 to £60,000
Move would boost growth and deliver better outcomes for pensions and the economy
Barriers remain but regulatory and industry change could lead to significant progress