Adviser levies
Advisers will also be looking for changes in the way they are asked to pay for regulation and for compensation to customers who have been mis-sold.
Funding for the Financial Services Compensation Scheme is under review and we may see the introduction of a product levy or no claims bonus system for those firms whose advisory record is exemplary yet still suffer the fallout from those who are not.
2016 will be a seminal year for pensions, and it is right that the system should be reviewed to ensure it provides encouragement and support to the right people.
That said, if I could ask for one thing in 2016 it would be a period of stability. Once the changes are announced in March please, please let there be some time for automatic enrolment and the new tax relief system tofully bedded in, before there are more changes.
Fiona Tait is pension specialist at Royal London
