Members should note the ABI's proposed approach to responding to HM Treasury’s consultation, Freedom and Choice in Pensions.
This will be complemented by work to take forward the guidance guarantee and the more immediate changes needed to respond to the Budget announcements. Also, we will engage with members through Committee and Working Group meetings. Members will be updated if the timing changes.
We will be working closely with our Investment Affairs colleagues, who will lead drafting on the impact on financial markets and investments (including from the DB transfers proposals). I will forward information from you covering the impact on investments to Catherine Phillips during the early drafting stages. If you would like to discuss these issues in more detail, please contact Catherine Phillips in the first instance.
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Members input welcome on HMT Freedom and Choice in Pensions paper |
Monday 28 April Please email: Rob Yuille |
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ABI to circulate draft for members’ comment |
Tuesday 6 May Closing date for comments – Wednesday 14 May Please email: Rob Yuille |
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ABI to submit second draft to Long Term Savings and Life Insurance Committee (LTSLIC) for review |
Monday 19 May Closing date for comments – Tuesday 27 May Please email: Rob Yuille |
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ABI to submit to ABI Board |
Friday 30 May Closing date for comments – Friday 6 June Please email: Yvonne Braun |
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ABI to submit response to HMT |
Wednesday 11 June |
As shown in the table above, the first step is to receive member views on the HMT paper by Monday 28 April, 2014.
If you have any questions about this process, or to discuss your views about the consultation, please contact Rob Yuille.