FSA urges pension review

Wednesday, January 18, 2006

The Financial Services Authority (FSA) has warned people to review their pension provisions ahead of A-Day.

April 6th marks the alteration of pension rules and the sweeping changes could have important effects for pension holders. The FSA is urging people to understand the impact the changes will have on them.

"The A-Day changes mean that people should take stock now to ensure they are on track to get the retirement income they want," said Vernon Everitt, FSA director of retail themes.

"A-Day will bring more pensions choices and people need to understand the opportunities and risks before making their decisions."

According to the website set up by the FSA to inform cosumers of the changes, A-Day should allow more choices at retirement, but the watchdog encourages people to use the impartial wesite to make their own judgements on how they will be affected.

The website features a jargon buster, pension calculator and pension tables to help visitors come to an informed decision.

Need to know more about pensions? Click here:
http://www.europinions-finance.co.uk/pensions/pensions/