The UK government has published the Pension Schemes Bill 2019. Highlights include:
- A framework for establishing, operating and regulating collective defined contribution pensions
- Enhancement of The Pension Regulator’s powers
- Provisions for introducing pension dashboards
- Additional conditions on the statutory right to transfer defined benefit pension benefits to other schemes, with the aim of protecting members against pension scams
Forthcoming regulations will provide further details. The timing of the bill’s progress is unknown due to continued political uncertainty in the UK.
- Pension Schemes Bill 2019-20 (UK Parliament, 15 Oct 2019)
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