The government has confirmed it will lay the Pension Schemes Bill in parliament today (5 June).
The government said the bill, which was first announced in last year's King's Speech, aims to support savers plan for their retirement by making pensions easier to understand, simpler to manage, and drive better value over the long term and would deliver on its Plan for Change. The bill will: Introduce a value for money framework for defined contribution (DC) schemes to enable a shift in focus from cost towards value and protect savers from becoming stuck in underperforming arrangements for extended periods. Simplify retirement choices, with all pension schemes offering default ro...
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