The Government has today issued its consultation response on “Freedom and choice in pensions” which gives us a clearer picture of how it intends to progress aspects of the headline grabbing measures announced in the 2014 budget.
The headline news includes:
- Transfers from funded defined benefit pension plans can continue
- The Minimum Pension Age is to increase to age 57 from 2028
- Members are to be provided with impartial guidance funded by a levy on financial services firms.
For further information please contact any of the partners listed or your usual contact in the Squire Patton Boggs pensions team.