defined contribution

Natasha Browne talks to Thames Water about its plans for implementing the Budget freedoms

Pensioners are at risk of overspending in their retirement years due to flexibilities allowing them to withdraw straight from their defined contribution (DC) pots, according to Prudential.

Most schemes plan to offer members more help at retirement than is proposed under the government's guidance guarantee, according to research carried out by Mercer.

The majority of UK defined contribution (DC) savers are not satisfied with their plans, according to research.

The Treasury expects to net an extra £3.9bn between 2015 and 2020 as a result of tax reforms designed to facilitate the Budget freedoms.

BlackRock is working to "repurpose" its range of target date funds and introduce an income drawdown product in response to the liberalisation of defined contribution (DC) regulation.

Defined benefit (DB) trustees should consider increasing the transfer values they offer to members in light of the upcoming liberalisation of defined contribution (DC) regulation, according to Mercer.

So as expected the Treasury's response to the Budget consultation will allow transfers from private sector DB schemes to DC.

Pensions minister Steve Webb has given the clearest indication yet of the make-up of the government's retirement ‘guidance guarantee', which will include a clear "hand off" to full advice for those who need it.

More than half of savers will spend less than a quarter of their pension in the first five years of retirement - dispelling concerns that flexibility will fuel irresponsible spending - research has found.