Member

To reduce the need for DC savers to make complex decisions and to make the pensions system easier to navigate, the Government are introducing a combination of measures. The guided retirement provisions introduced in the Bill will require pension providers to develop “do it for me” solutions appropriate to the scheme’s membership, providing a retirement income in later life by default, unless savers choose otherwise. While members will continue to have choice and control over their pension assets, we believe it is in the interests of the majority to have a default solution that does not require a complex decision for those who do not engage.