Pension funds will be given space to strike a balance between long-term liabilities and assets and a new "flexible" pensions regulator is being introduced, according to the Pensions Bill just released by the DWP.
That said, only sketchy details were first released this morning by Andrew Smith MP, secretary of State for Work and Pensions, as information obtained by IFAonline suggested "an administrative error" by the DWP will delay the Bill's full paper publication by several days. A statement from the DWP proposes "modifications" to rules for contracted-out money purchase arrangements. However, what those changes are has yet to be identified as only a handful of MPs have so far seen a paper-based version of the Bill. The Stationary Office says it has not yet officially been asked by the gov...
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