Alastair Conway, chief executive for pension provider James Hay has pledged that advisers and their clients will get the full breadth of flexibilities following April’s pension changes.
Mr Conway said that from the start of the new tax year, the platform’s clients could use the variety of services available, from capped drawdown to flexi-access drawdown and accepting transfers from crystallised and non-crystallised pensions.
He said that it was important for clients to be able to take income from a variety of wrappers at different stages and in different ways in order to avoid paying more tax than they have to.
Mr Conway praised James Hay’s suitability to the changes introduced by chancellor George Osborne in March 2014, saying: “The pension freedoms announced that day could not have fitted our business model better had I written them myself.”
He also announced that James Hay would focus on research into the relationship between advisers, clients, providers and regulations and how this affects trust and engagement with financial services.
Ashley France, adviser for Cheshire-based Ark Financial Planning, said: “Most of the platforms are getting ready for the changes, which is important in case the clients want to use the freedoms from day one.”