The government must shed light on how incoming pension flexibilities interact with means-tested benefit rules, according to shadow pensions minister Gregg McClymont.
The opposition criticised the government's lack of attention to the issue during a House of Commons debate on amendments to the Pensions Schemes Bill. "The government said that they intend to come forward ‘soon' with explanations of how the Budget reforms will interact with DWP [Department for Work and Pensions] rules. "But time is marching on. We are very close to those flexibilities ‘going live', and it is incumbent on the government to let us all know how the reforms interact with DWP benefit rules," said McClymont. He added: "I am sure that the minister would agree that the int...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
