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.
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
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