On 6 April 2015 the UK’s new pension laws came into effect, meaning that the majority of those over the age of 55 will be able to do as they see fit with the money that they have accumulated through their pensions.

These changes have put private suppliers that have had pension responsibilities outsourced to them in a difficult position, as they have had relatively little time to prepare and some are tied into contracts that aren’t necessarily conducive with these changes.

Coming into place so soon before the General Election, it is thought that this new policy has been pushed through quickly in order to help the Conservative Party secure the ‘grey vote’ on 8th May 2015.

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