Abbey for Intermediaries has put together a pension simplification pack for IFAs for use in the run up to A-Day.
The pack highlights how some of the new rules could hit clients and points to pension planning opportunities for IFAs that will come from the new rules.
It contains a guide to maximising business opportunities, including sample approach letters to use with existing and new clients.
It also provides IFAs with a guide to the proposed simplification of the pension tax rules, along with case studies highlighting two issues – securing tax-free cash against A-Day changes and allowing phased retirement after A-Day.
Abbey believes Scottish Mutual's clustered buyout transfer plan provides a solution to many of these issues.
Head of pensions and retirement Mike Brown says:”A-Day has been delayed one year to April 6 2006 but this does not mean IFAs should wait until nearer the time to prepare clients for A-Day.
“There are lots of opportunities for IFAs to act on now, which is why we have put together this pack full of support material to help IFAs make sure their clients are well prepared for and not disadvantaged by A-Day.”