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So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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By IPE Staff2021-01-26T14:54:00+00:00
The policy board for the Pensions and Lifetime Savings Association (PLSA) has identified six priority policy issues for 2021 as several new members join, following a comprehensive selection process.
While the PLSA expects to work on around 40 or 50 policy issues this year, the following have been classified as top priority:
DC decumulation – the PLSA has proposed that a new regulatory regime be established that would require pension schemes to support their members when making decisions about how to access their defined contribution (DC) savings;
Pensions tax relief – to set out the key principles for any reform of pension taxation to help ensure more people achieve a better income in retirement;