This could be in situations such as:
Amidst continued media excitement about the new flexibilities, trustees of defined contribution (DC) schemes and sections now need to decide exactly how they will implement the new flexibilities.
Trustees of defined contribution schemes and sections have never been so busy! 6 April 2015 is fast approaching, when the new legal governance requirements and default fund charge cap come into force.
One of the most talked-about topics in pensions this year has been the announcement in the budget enabling people to take more cash from defined contribution (DC) pension schemes.
The Chancellor’s Budget announcement of greater flexibility over retirement benefits has led to a major reinterpretation of what the word ‘pension’ means in a defined contribution context. Meanwhile, the Department for Work and Pensions (DWP) has been working on its own redefinition of pensions in a wider context, in the shape of the Pension Schemes Bill, which was laid before Parliament on 26 June 2014.
View the briefing note