If there is to be a lead in period (and we know that there will be, the only doubt is going to be 'how long') it will have to be sufficiently languid in order to avoid financial hardship; no one wants to see ex servicemen caught out on the streets because the goalposts moved. It all counts for nothing if proposals concerning early access to pension savings kick in anyway. Steve Webb (Minister for Pensions) remains a strong advocate of allowing savers to draw up to 25% of their pension fund before age 55 in certain situations (buying a house is one of those scenarios mooted). If that applies to Private Pension provision, there will have to be some parity across the board into public sector pensions; provision might possibly be made to allow members to choose to receive the affected element of their pension earlier, on an actuarially reduced basis perhaps..
But, as you say, no one knows just yet.. I'm just waiting for the pensions ISA. Wait out.
Last edited by Al R; 24th Mar 2011 at 14:25.