It’s been an electric period in pensions… the freedoms has arrived, the Chancellor has heralded further developments on the horizon, the industry is awash with change.
But the Spence team have been keeping their finger on the pulse, monitoring industry changes and trends from the last quarter and condensed the information into a snappy report for you to download. This update briefly summarises everything you need to know, and clearly sets out the actions you need to take. Saving you hours of scouring through multiple reports, press releases, blogs and articles.
Some key updates to keep an eye out for are:
- The Pension Schemes Act 2015; the pension freedoms are now in place, and the Act opens the door for Defined Ambition and collective pension schemes.
- Budget 2015; the Chancellor’s recent announcement details a number of reforms from April 2016 including changes around annuity holders selling their income to a third party.
- Pensions Transfers; TPR have published guidance around managing requests for transfers from DB to DC schemes.