Rules, Rules and More Rules

It will have escaped nobody's attention that pension schemes are currently facing turbulent times. Indeed it is barely possible to open a newspaper without seeing a pensions headline — most of these being of a gloomy nature.

The need for reform of pensions has never been more evident. People are living longer there are signs of a decline in pension provision by employers as many move from defined benefit to defined contribution pensions stock markets are volatile and complexity and lack of confidence is discouraging many people from saving for their retirement....