Recent developments in pensions legislation, effective from 6 April, 2006, (‘A’ Day), mark a sea change in pension provision. It is important that people take stock now and plan how best to protect the benefits they have accumulated so far, and how to invest from now onwards.
Many key issues are determined by the length of time left before a partner plans to retire. For those partners intending to retire in the next few years, it is important to consider how to maximise contributions and how to protect the funds that have already accumulated. Partners should also review the charges and investment strategies of existing contracts and plan how they wish to finally take income from the funds.
