Guidance v. advice

KEY POINTS

• Flexibility for defined contribution pension schemes.
• The government will provide guidance not advice.
• Tax exemption for international sportsmen and women.
• Changes to employee share schemes.

Pensions made news headlines after the 2014 Budget and the proposals that sparked them off were discussed during the sixth sitting of the public bill committee’s debate on the Finance Bill.

Cathy Jamieson (Lab/Co-op) began proceedings in an almost uncannily perceptive way saying:

“We cannot predict what will be in the Queen’s speech but we expect further pensions legislation.”

Did she have an insight into the speech in which the monarch explained that the government was considering the introduction of collective defined contribution (DC) schemes?

Back to the matter in hand – the committee was looking at clause 39 “Pension flexibility: drawdown” and clause 40...