Chancellor Jeremy Hunt has announced plans for the majority of defined contribution (DC) savers to have their pension pots managed in schemes over £30bn by 2030.
The government will open the Pension Protection Fund (PPF) as an investment vehicle for smaller defined benefit (DB) schemes, chancellor Jeremy Hunt has confirmed.
Pot for life reforms mark a “sea-change” in workplace pension provision and need careful consideration before implementation, leading industry figures say.
The Autumn Statement has announced a comprehensive package of pension reform to provide better outcomes for savers, drive a more consolidated pensions market and enable pension funds to invest in a diverse portfolio.