Over the last 10 years contract based group personal pensions have increased in popularity among employers and the A-day changes seem likely to accelerate this trend, claims new research from Clerical Medical.
The syndicated research, conducted by IQ research, looks at the factors which have influenced this shift towards contract based group personal pensions, since the introduction of the Pensions Act in 1995. It reveals 95% of the intermediaries interviewed believe new trustee responsibilities are one of the main drivers for change in smaller occupational trust based schemes. New changes in pensions legislation on A-Day, including the introduction of more trustee respobnsibilities and member nominated trustees (Mnts), are likely to speed up this shift towards contract based and stakeholder sc...
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