Pension freedoms a 'success' but DC challenges are ahead

Marking the decade anniversary of when members could first access a portion of their pension savings tax-free, Isio director Matt Calveley said the reforms have provided "millions with greater flexibility and control over their savings". Earlier or phased retirement and increased time for funds invested in markets, as well as the ability to "manage unexpected financial needs in a way that wouldn't have been possible under the previous system" have been the main benefits, while the ten years ahead is likely to see challenges with the defined contribution (DC) sector. Calveley said with...