Following industry pressure
House of Lords agrees heavily amended mandation powers accepting final draft of bill
Amendment covers pension schemes seeking an exemption
Bill continues through parliamentary 'ping pong' process
Government will not require DC schemes to invest more than 10% of total assets
Trustees expected to ‘breathe a sigh of relief’ at the House of Lords vote to remove the power
Minister confirmed retirement CDC ‘will happen this year’
Consultation responses suggest proposals risk creating ‘disjointed’ and ‘confusing’ experiences
Torsten Bell told delegates to ‘keep engaging’ with the pension commissioners
DWP said the incomes of retirees is ‘set to fall’ if nothing changes