The pensions freedoms rules should be amended to allow savers to access their 25% tax-free lump sum and leave the rest invested in their pension, Lane Clark & Peacock (LCP) has urged MPs.
Defined contribution (DC) chair’s statements need a major re-think as part of the Department for Work and Pensions’ five-yearly statutory review on the rules around scheme governance in 2021, LCP says.
The Pensions and Lifetime Savings Association (PLSA) has called on the government to implement regulations for schemes to better assist savers with complex decisions regarding pot access at the point of retirement.
Lane Clark and Peacock (LCP) has urged the government to “look again” at the idea of ‘pot follows member’ to fix the burgeoning number of small pension pots getting lost.
Professional Pensions’ expert panel discusses how defined contribution (DC) default strategies will change following the crisis.
Many schemes are only at the start of their ESG journeys and are likely to be confused by reporting requirements as they also grapple with the ongoing Covid-19 pandemic, says the Pensions and Lifetime Savings Association (PLSA).