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Picture by Ben Dance / Treasury
The government is set to make legislative changes in order to enable defined contribution (DC) scheme consolidation and introduce retirement collective DC (CDC).
In supporting documents following chancellor John Healey's inaugural Budget today (28 October), the government confirmed said the changes, alongside the guided retirement framework, will be introduced in the Finance Bill 2027/28.
The measures include expanding the circumstances when a member may keep certain protections following a transfer and allowing members to transfer from a retirement CDC pension to a drawdown arrangement within a set timeframe.
