ARIES INSIGHT:

  GUIDANCE ON THE MEANING AND IMPACT
  OF PENSIONS LEGISLATION CHANGES
 

  – click to see this month's example  

 
  PENSION FREEDOMS : HOUSE OF COMMONS WORK AND PENSIONS COMMITTEE REPORT
On 28 March 2018, the House of Commons Work and Pensions Committee made public a new Report on Pension Freedoms. The Report makes a number of recommendations which we list below together with our comments.

  • The Government should respond on the long-term objectives of pension freedoms; and how it will monitor and report on performance outcomes.

Aries comment
"No-one will have to buy an annuity" is hardly a policy. The government stands accused of abdicating responsibility for the consequences of pension freedom. By scrapping the former minimum income requirement for accessing flexible drawdown as part of the new freedoms, the government in 2014 was declaring it had no interest in the extent to which pension savers exhaust their savings before death, and fall back on state benefits.

  • The Government should take forward, by April 2019, FCA proposals to introduce default decumulation pathways. Any provider offering drawdown would be required by FCA rules to offer a default solution that is targeted at their core customer group. The same 0.75% charge cap that applies to automatic enrolment schemes . . .

16 Apr 2018   Check other news items

Aries monitors every development in new and proposed legislation

Guidance on the meaning and impact of Pensions Legislation changes

25 Years experience working with over 100 top Pension Providers and UK Authorities

Clear and straight advice on putting Pensions Legislation changes into practice

Aries Insight gives the Big Picture and the Little Details

Ensure compliance with all Regulatory Requirements for Pensions

 
ARIES BENEFITS
INFORMATION
INSIGHT
INSTRUCTION
INFLUENCE
INCLUSION
INTEGRITY
OUR OFFER