It's arrived! A-Day: pensions tax simplification
	6 April 2006

Welcome to the home page of our Pensions Act 2004 micro-site. As the provisions of the Act develop, so too will this site.

The Pensions Act 2004, which received Royal Assent last November, is set to surpass the Pensions Act 1995 as the most significant piece of pensions legislation ever to make it to the statute book. With 325 sections, 13 schedules and an anticipated 100+ sets of regulations to be made, its impact on the country's remaining final salary pension schemes will undoubtedly be dramatic. Even those employers who operate money purchase schemes will have a lot of work to do under the new legislation.

The Act will come into force in stages, with the majority of its provisions taking effect in April 2005, September 2005 or April 2006. The first of the Act's provisions are now, therefore, in force. The Government is currently consulting with industry bodies on the first of the regulations and codes of practice that will add the flesh to the bones of the Act itself. Some of its provisions, such as the now-infamous "moral hazard" clauses, are well known already. As for the others, we must wait and see.

We will be closely following the progress of the new legislation as its provisions become known with more certainty. In place of our monthly updates on pensions legal developments, we will instead be producing comprehensive summaries - in a fresh new style - of the regulations, as and when details become available. These will be sent as a matter of course to all subscribers to our monthly updates, or you can register by clicking here. The material will also appear on this micro-site which will be updated on a regular basis.

For further information on our pensions practice, or how we may be able to help you prepare for the new Act, please contact our pensions partner, Kris Weber, by email or by telephone. Alternatively, the Charles Russell lawyer with whom you usually deal will be able to put you in touch with a member of our pensions team.