The Department for Work and Pensions (DWP), in collaboration with The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA), has launched a consultation on guided retirement.
The consultation – published today (3 November) – covers how default pensions should work in practice and sets out initial proposals for secondary legislation under the Pension Schemes Act 2026. The government confirmed 17 million private sector workers saving into a pension will be given the option of an income in retirement as part of the guided retirement plans. The DWP said the new plans "resurrect" genuine pensions for millions of private sector workers and will allow them to enjoy a pension that lasts through retirement, which is "something public sector workers take for granted". ...
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