UK - Barclays Bank is unveiling a hybrid pensions package for the 24,000 members of its DC scheme and all new employees.
The scheme has a core section called the credit account – which is guaranteed not to fall in value – and a voluntary section called the investment account.
It is not guaranteed and its value will go up and down in line with performance.
The scheme will come into effect for new staff on October 1.
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The two-sided simplified annual pensions statement should be applauded, even if it missing information, says Jonathan Stapleton.