The idea of attaching guarantees to DC pensions is a controversial one. Yet it is an idea the pensions minister is convinced could help to rebuild trust in pensions.
"People just don't trust pensions and I think this is where guarantees can play a role," Webb told the audience at Cass Business School. "They are one way of helping people to see they are making progress...
The £2.3bn withdrawn flexibly from pensions in Q3 represents a 2% year-on-year decrease from monies withdrawn during the same months in 2019, HM Revenue and Customs (HMRC) figures show.
The Department for Work and Pensions’ (DWP) consultation on improving defined contribution (DC) outcomes has garnered support from the industry, but many have warned of potential unintended consequences.
As DC schemes face increasing pressures to consolidate, David Snowdon says master trusts are the perfect home.
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
The pensions industry must personalise interventions and auto-enrolment (AE) conversations to prevent members from squandering their pots at retirement age, according to industry experts.