A ‘flex first, fix later’ product would seek to achieve the best of both worlds for retirees
Report follows DWP consultation to help savers understand retirement options
A snapshot of industry views as responses to the four-part DC consultation package close
Consultation will aim to unlock investment while protecting savers
Lane Clark & Peacock is urging the industry to take action on default strategies
Reform of pensions tax would be hard, but some areas appear more generous than others
Pensions industry representatives were questioned by the committee on freedoms
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.