With a little less than six months until the end of contracting out, time is running out for decisions to be made around the two main issues; reconciliation of benefits for existing pension scheme members and for Defined Benefit (DB) schemes that remain open for further accrual, the increased National Insurance costs. Sponsoring employers and trustees have a variety of issues to consider.
Topics: Defined Benefit
DC pensions have certainly caught the public’s attention in 2015. Recently released figures show over 200,000 people accessed the new pension freedoms in the three months since the rules were relaxed in April 2015. While it is good to see more people taking an interest in their retirement, and by all accounts not just buying supercars with the proceeds, there is still a huge lack of understanding by the general public in regard of DC.
Topics: Defined Contribution