The DWP Command Paper “Better workplace pensions: Further measures for savers” was issued on 27th March and a consultation process on some aspects of the paper has commenced. This is the latest in a long line of recent measures and planned changes aimed at improving the regulatory framework for Defined Contribution pension arrangements.
With so many DC issues up in the air it’s not possible to cover them all, so in this communication we focus on the key issues set out in the Command Paper and some of the likely actions needed. We also highlight some of the ways in which the Command Paper interacts with other developments in the DC market. Nothing that improves DC standards can really be objectionable but there are undoubtedly challenges for trustees, employers and providers to meet in considering and complying with the numerous requirements being imposed on them in a very short time-frame (including those arising from the 2014 Budget).