We have made a change to ATEB Suitability following a recent regulatory development.
What does this mean for me?
Following the Draft Finance Bill published on 20 July 2021, we have updated the wording of our ‘Proposed changes to Normal Minimum Pension Age (NMPA)’ section within the ‘Retirement Advice’ page of the main Suitability Report template. This section includes a standardised text option, pre-ticked for inclusion in all retirement advice reports, informing clients that the NMPA will increase from 55 to 57 on 6 April 2028, as well as the Government’s proposal to offer a protection regime, so that the following individuals will be protected from the increase to the NMPA:
- any individual who is member of (or becomes member of) a scheme on or prior to 5 April 2023.
- any individual who meets the condition above but who subsequently conducts a bulk (block) transfer to a new scheme.
Please don’t forget we have a collection of ‘how to’ guides, articles and hints/tips via our FAQs which are available on our Help & Support Portal.
Our support team are available 9am – 5pm / Mon – Fri to answer any further questions you may have support@atebsuitability.co.uk / 0191 338 8177.
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