Well you called it a pension annuity contract rather than a retirement annuity contract and as we know, terms are really important. But I still don't understand what "coming up for retirement" has to do with anything - the majority of pensions post legislation will be money purchase. And most people coming up for retirement now clearly won't have a 226 plan. It's really hard to tally your posts to what the thread is about - it seems like you're having a really hard time understanding the big picture. Perhaps tell me more about how "financial salesmen" as they seem to be called will have a better time once pension pots have already been taxed.
The majority of 226 plans were money purchase schemes as well.
I suspect that a huge no of people will have multiple plans, as increasing contributions on an older plan both pre & post 1988 attracts huge charges.
Not having any problems with the big picture at all, I know your a financial advisor
I am not a financial advisor, but just as long as *you* know I am... the majority of schemes will be occupational money purchase schemes, not 226 schemes.
The Ask The Experts section of the Daily Telegraph, has credited you as being an independent financial Advisor on more than a dozen occasions. I guess you can't trust what you read in the Newspapers.