The year will have a flying start as stakeholder loose ends are tied up and we prepare to enter the brave new world of defined contributions. Many customers take advantage of the last chance to set up old-style life insurance and waiver.
April arrives and stakeholder becomes a reality. Pension-sharing orders are coming through from the divorce courts and IFAs are in demand to give advice.
Employers take advice on their new responsibilities to offer pensions to employees. Many have to change existing arrangements or set up arr angements for the first time. Despite the hype about simplicity, many find the reality very complex.
As we start the third quarter, other employers suddenly realise October is coming and time is running out. Unfor tunately for many who have left it this late getting pension advice proves rather difficult, since specialist pensions IFAs are extremely busy.
The year is ending and the most frantic phase of stakeholder is over, but work goes on. The advice implications of the new defined contribution regime, including earnings certification and pensions for non-earners become inc reasingly important.
It looks like another busy year ahead in 2002.