The present system includes eight different tax schemes and, although complicated, cutting them down into one will not come without its problems.
This could include some people losing their rights to higher lump sums, or different benefit levels.
Despite the measures the paper is set to create a huge amount of disappointment in the industry. Many workers are being moved from final salary schemes into money purchase products, where the employers will ultimately contribute less.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars