The challenges of default retirement income solutions

Martin Richmond looks at how the industry could respond to default decumulation duties

Martin Richmond
clock • 18 min read
The challenges of default retirement income solutions

The Pension Schemes Bill, announced in the King’s Speech 2024, will require pension schemes to offer retirement products, so people will have “a pension and not just a savings pot when they stop work”.

The bill will do this by placing duties on trustees of occupational pension schemes to offer guided retirement products to members, including "a retirement income solution or range of solutions" an...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Partner Insight: Unlocking Value in DC pensions – why active fixed income matters

Partner Insight: Unlocking Value in DC pensions – why active fixed income matters

Lee Hollingworth, Retirement & DC Solutions Director, explores the future adequacy problem facing the UK DC system, and how an active approach to fixed income investing could help improve retirement outcomes.

Lee Hollingworth Retirement & DC Solutions Director @ Royal London Asset Management
clock 12 June 2026 • 3 min read
Partner Insight: From policy ambition to practical capital - the value of listed infrastructure investment companies

Partner Insight: From policy ambition to practical capital - the value of listed infrastructure investment companies

Minesh Shah, Managing Director, The Renewables Infrastructure Group
clock 12 June 2026 • 5 min read
Guided retirement could play 'critical role' in strengthening outcomes

Guided retirement could play 'critical role' in strengthening outcomes

Institute’s report says segmentation will be central to the design of guided retirement solutions

Martin Richmond
clock 08 June 2026 • 6 min read
Trustpilot