Department for Work & Pensions paper suggests move towards regulation of all DC pensions
Until now, there has been greater legal and regulatory focus on defined-benefit (DB) pension schemes. However, the onset of automatic enrolment and the closure of many DB schemes have brought about greater government focus on defined-contribution (DC) pension schemes, including the provision of contributions to personal pensions by employers that presently carries very little obligation other than to make the agreed payments on time.
On 4 July 2013, the Department for Work & Pensions (DWP) issued a call for evidence in relation to quality standards in workplace DC pension schemes (occupational and personal). This not only asks for information about how DC schemes are currently run, but also seeks views about suggested approaches to legislation…
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