Member

By mandating the requirement to include a regular income for the vast majority of savers, the Government are addressing the need for reliable default pension plans that provide security in later life. We anticipate making that expectation clearer in regulations following consultation with stakeholders on the best way to deliver this but, to be clear, we expect there to be exemptions. That might be, for example, where a pot is below a certain amount and would therefore generate an income below an agreed amount, or maybe if the reverse were true and the income exceeded a certain amount.