Trustees: We already do better than Osborne's 'guidance guarantee'

Jenna Towler
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Many trust-based DC pension schemes already offer more than the ‘guidance guarantee' to their members and are worried about being forced to ‘dumb down' standards, according to the National Association of Pension Funds (NAPF).

Richard Wilson, NAPF policy lead for DC pensions and investment, said a recent poll of trust-based schemes found more than half were worried about the time scale for implementation - currently scheduled for April 2015 - and some 80% did not understand exactly what they were being asked to provide. He said: "Our members are often the kind of people who are doing a lot already. What they are now worried about is: are they going to change that? "Whether that is going to meet the guidance guarantee or is it going to be a prescriptive thing that they have all got to deliver in the same way...

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