Stronger (nudge) than yesterday

Sam Dalling on why schemes containing DC benefits will need to be stronger than before

clock • 4 min read
Sam Dalling
Image:

Sam Dalling

In January, the Department for Work and Pensions (DWP) published final regulations requiring defined contribution (DC) trustees to implement a ‘stronger nudge’ to members who want to either take or transfer their ‘flexible benefits’ (broadly DC benefits).

"Ok but I'm running a defined benefit scheme so I can stop reading now, right?" Not so fast my friend. DC additional voluntary contributions are flexible benefits so if your scheme contains them...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Partner Insight: Are you up to speed on LTAFs?

Partner Insight: Are you up to speed on LTAFs?

How the Long-Term Asset Fund (LTAF) is reshaping private market investments for DC pension schemes

Hardeep Tawakley
clock 24 October 2024 • 2 min read
Resolution Foundation releases adequacy report

Resolution Foundation releases adequacy report

Report comes 20 years after Pensions Commission

Jasmine Urquhart
clock 10 October 2024 • 2 min read
Partner Insight: Access all areas - An affordable home is where the heart is for most DC pension savers

Partner Insight: Access all areas - An affordable home is where the heart is for most DC pension savers

We believe using direct contribution (DC) pension fund investments to help tackle the UK’s housing shortage could be the way to the hearts of retirement savers when it comes to helping them understand – and maybe even embrace – the concept of looking...

Rita Butler-Jones, Head of DC, Legal &General
clock 10 October 2024 • 7 min read
Trustpilot