DC pensions — all change
In its August edition of Pensions Priorities, Taylor Wessing mentioned several initiatives being led by the Pensions Regulator, the Department for Work & Pensions (DWP) and various others in relation to workplace defined-contribution (DC) pension arrangements. These indicate a shift from the present, light-touch approach to regulation for these sorts of pension schemes.
This increased focus is being driven mainly by the acknowledgement that it is, on the whole, DC arrangements that employers are using to satisfy their automatic enrolment obligations. As such, it is vital to the success of auto-enrolment that DC schemes inspire confidence and produce appropriate outcomes and experience for members.
Taylor Wessing looks at the various DC proposals in more detail and draws out some of the emerging issues…
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