Now two years into freedom and choice in DC retirement savings, for members of a DB scheme making the most of these flexibilities will involve transferring to a DC arrangement. We provide an update on the lay of the land.
The largest occupational pension schemes are an integral part of the UK economy. These schemes invest substantial amounts of capital in the wider economy and are responsible for the retirement wellbeing of a large proportion of the population. They also strongly influence the behaviour of smaller schemes, for example with respect to developing innovative methods of sponsor support and risk mitigation.