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Helping savers understand their pension choices

Published on: 29 June 2022
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Article summary

Pensions analysis: The Department for Work and Pensions (DWP) launched a call for evidence seeking views on how it can support pension scheme members make informed decisions on using their savings. DWP sets out member expectations, the current position in the trust-based market and plans for the future. The consultation will have an impact on pension schemes and savers as it is likely it will lead to the introduction of measures to support trust-based scheme members, the extension of collective defined contribution (CDC) schemes to multi-employer schemes and master trust, and the National Employment Savings Trust (NEST) may also be developed to offer further decumulation options. The call for evidence ends on 25 July 2022, following which the DWP will decide whether government action is required to help pension savers. Nicola Rondel, counsel, and Dominic Starke, trainee solicitor, at Hogan Lovells examine the call for evidence and its implications for pension schemes and savers.

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