UK - Pension funds should redesign their schemes to be ready for tax changes in 2006, law firm Wragge & Co warns.
It says schemes should be deciding now on how they incorporate rules on increases in the minimum retirement age from 50 to 55, maximum lump sums, income drawdown and flexible retirement.
Schemes should resolve how those with pension pots of more than £1.5m will receive future pension contributions, within the next three months.
Most people think it is right that savers take responsibility to protect from pension scams.
More than 100,000 savers face being landed with huge tax bills following tiny uplifts to their pension, a Freedom of Information (FOI) reply has revealed.
Alan Pickering says politicians should have the freedom to redefine what is meant by 'absolute'