Gov't consults on protected rights in DC schemes

In a consultation, which closes on 13 October, the Department for Work and Pensions (DWP) says as part of the work to deregulate pensions simplification of the requirements surrounding protected rights would “provide a substantial contribution”. At the moment, protected rights are kept separate from normal pension rights, and the government says the restrictions “have been a source of complexity for schemes and members” resulting in additional administrative costs and less choice for the member. The current restrictions on protected rights include: Investment of the rebate and protec...