Most people are unaware of the forthcoming pensions regulations simplification, otherwise known as A-Day, according to a survey.
The building society Norwich and Peterborough (N&P) found that 73 per cent of the population did not know what A-day was, and 57 per cent did not know when it was going to happen.
The changes in the UK pensions system, taking place on April 6th 2006, will standardise the pension contributions that individuals and employers can make to personal and occupancy pension funds.
Judith Dove, head of financial advice at N&P, said that it was "worrying" 59 per cent were not concerned by how the changes to pension regulations could affect their retirement pension circumstances.
She urged all to review their retirement pensions promptly to "ensure any advantages the new rules may offer aren't missed".
HM Revenue & Customs hopes that changes to the UK pensions system will provide greater flexibility for customers and reduce costs for employers and pension fund administrations.
Nation unaware of pensions regulations, poll finds
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Nation unaware of pensions regulations, poll finds
Tue, 27 Sep 2005
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