This year has been an exciting year for IFAs in terms of new legislation for pensions and ISAs (NISAs). The new legislation should help IFAs generate more business as people engage with the need for advice around the changes, particularly the pension legislation.

Under the new rules pensions look even more attractive with the flexible options for retirement income (or lump sums) helping the general public see better value overall from pensions. This is good news.

However, following years of pension legislation changes I think it is now time to stop and create some stability in the market. People need to know that what they are buying (a pension) will remain broadly the same when they need to take their benefits.

Pensions could now be funded for circa 50 years and it will give the general public confidence to know that they have legislation that will not change frequently. This confidence could help lead to increased interest and take up of pensions in the UK. This really would benefit the UK economy and the State over the long term.

Can we achieve this for our clients? I believe that we should all lobby for stability in pension legislation – this would help everyone.