Axa retirement calculator expert highlights timescale of reforms

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Axa retirement calculator expert highlights timescale of reforms

Thu 20th Jan 2011

A senior source from Axa has stated that the biggest challenge relating to the upcoming pension reforms will be the short timescale that providers have been given to prepare.

Mike Morrison, head of pension development at the firm, stressed that he is fully in favour of the changes being made to areas of the retirement saving system such as drawdown.

In his view, the reforms implemented by the government will make pensions more attractive to consumers.

But he pointed out that it will be challenging for all firms in the sector to make amendments to their systems and literature in time for when the changes come into force in April.

Mr Morrison added: "In principle I feel that the new regime should offer people extra flexibility and the chance to exercise more control over their retirement options."

Last week, Axa Wealth International announced the appointment of Tony Kisby as international development manager, with the expert joining the team from Prudential.

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