Basically the IBN that came out is a 'Wait-Out' on proposed changes forced into being by the Finance Act 2004. FA2004 limits the amount of benefit one can draw from a pension scheme to 25% (formally 50%) FOR SERVICE BEYOND APR 06 (previous service unaffected).
How this will affect us is unclear and will be cleared up in a renewed DIN in the future, but smart money is on a reduced commutation figure. Bugger.