Defined Ambition

The implementation of pot follows member has been put on hold according to a ministerial statement issued today.

The Budget flexibilities will not hinder the government's plans for collective defined contribution (CDC), according to the Pensions Policy Institute (PPI).

Henry Tapper says the people want collective defined contribution (DC) pensions

Respondents to the government consultation on defined ambition (DA) pensions may have changed their minds on key issues after the changes announced in the Budget, says the Society of Pension Consultants (SPC).

Employers showed a "lack of interest" in proposals to give them greater flexibility over defined benefit (DB) schemes, says the Department for Work and Pensions (DWP).

The government has confirmed its commitment to overhaul the retirement process and announced new plans to introduce collective defined contribution (CDC) in the Queen's Speech today.

The Pensions Regulator (TPR) has prioritised good governance in its corporate plan published today.

The government must do more to encourage employers and employees to increase contributions to pension schemes, says incoming Association of Consulting Actuaries chairman David Fairs.

Pensions Minister Steve Webb says he remains committed to defined ambition (DA) despite the Budget scrapping restrictions on how people take their pensions income at retirement.

The majority of Buzz respondents believe the Department for Work and Pensions (DWP) has stalled on its plan to deliver a defined ambition (DA) system.