Pension schemes should not rest easy from Scots voting no to independence, a Sipps firm warned this morning, as experts signalled they still see significant change on the horizon.

Mike Kennedy, partner at Barnett Waddingham, said this morning, following the no vote, that a breakaway would have been expected to lead to greater costs and complexity for pension schemes in Scotland and the rest of the UK.
But the rejection of full independence is not the end of the story, with the door to complications and increased costs remaining firmly open due to the potential impact of greater devolution that has been promised.
Mr Kennedy said: "The prospect of schemes operating across the Scottish border being forced to meet stricter funding requirements has now fallen away.
"However, pension schemes and their sponsoring employers should not rest easy.
"The Scottish Parliament was promised additional powers from Westminster in the run up to the vote and it is likely that they will seek to use them.

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"If differences arise in legislation and taxation between Scotland and the rest of the UK, this will lead to complications for administering schemes with members in both regions, and therefore increased costs."
Other experts have said this morning that pensions and tax relief upheaval looms despite the Scottish no vote.
A Towers Watson paper stated that stronger tax-varying powers for the Scottish Parliament could affect both tax relief on pension contributions and the tax due on pension payments.
Jamie Smith-Thompson, managing director of Portal Financial, has expressed concerns about the longer term consequences of devolution regarding changes to the state pension and retirement age.
He said: "The outcome to remain in the Union does not mean the status quo will continue.
"Any change in state retirement age will have an impact on company and private pensions as many people look to a single date for their retirement, usually the commencement of the state retirement age.
"For some people there will be an immediate need to look at the profile of their investments and make appropriate changes. It is therefore advised that anyone with investments in Scottish institutions to take professional independent advice, especially as there are also issues with potentially different tax regimes."
Tom McPhail, head of pensions research at Hargreaves Lansdown, said: "In the longer term we expect devolution of powers from Westminster to Scotland (and potentially other regions too).
"This could lead to regional tax powers – Scotland already has limited powers to vary income tax - which could in turn impact on pensions and other savings plans, however we wouldn't expect to see any change this side of the general election."