Government moves fast on shared risk and collective DC
By Ian Greenstreet
It was only announced in the Queen’s Speech on 4 June, but already the government has published its proposals for the reclassification of occupational pension schemes in the Pension Schemes Bill.
The bill introduces a new category of ‘shared-risk scheme’ into pensions legislation (the term ‘defined ambition’ has been axed). It is proposed that in future there will be three main categories of scheme: defined-benefits scheme; shared-risk scheme; and defined-contributions (DC) scheme…
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