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With a flurry of reading material and a hailstorm of new acronyms, the draft Taxation of Pensions Bill has been published for consultation.
The government has published its response to the ‘Freedom and choice in pensions’ consultation. Individuals aged 55 or over will be able to access their entire DC pension flexibly.
Money purchase deconstructed: working with the new definition — a checklist for trustees and administrators
The definition of money purchase benefits is changing, as are the rules on how schemes are required to deal with any benefit that becomes classified as a ‘non-money purchase’.