Take part in our latest readers’ poll on a current topical issue. Last week, the government introduced the Pension Schemes Bill, which has been designed to make pensions easier to understand and manage, and drive better value over the long term.
The bill will work to ensure savers get good returns and drive economic investment by requiring defined contribution (DC) schemes to prove they are value for money to avoid underperforming schemes.
It will also simplify retirement choices by all pension schemes offering default routes to a retirement income, consolidate and professionalise the Local Government Pension Scheme, bring together small pension pots worth £1,000 or less into one scheme certified as delivering good value, create new rules for multi-employer DC scheme megafunds of at least £25 billion, and increase flexibility for defined benefit (DB) pension schemes.
In light of this, do you think the new Pension Schemes Bill will help DC schemes to prove they are value for money?
