The government has said pensions flexibilities have raised £1.7bn more than expected so far as individuals are withdrawing more cash than previously thought.
In its Budget policy costings document, HM Treasury said the flexibilities, which came into force in April 2015, were originally estimated to raise around £300m for the government in the 2015-16 tax year...
This week's top stories included the Department for Work and Pensions issuing two separate consultations on the pensions dashboard and defined benefit consolidation.
A regime similar to that for defined contribution (DC) master trusts will be set up for regulating defined benefit (DB) consolidators under plans announced today.
Defined benefit (DB) superfunds that wish to enter the market must talk to The Pensions Regulator (TPR) about their plans before opening for business.