UK Pensions Body Proposes Regulatory Update For Schemes
Law360, London (July 29, 2020, 3:19 PM BST) -- A pensions trade body has called for new regulation that will require retirement plans to provide greater support for customers when they come to withdraw their savings as income.
The Pensions and Lifetime Savings Association said Tuesday it has launched an industry consultation on the proposed "regulatory framework," which will be presented to the government in October.
The association found that 71% of 2,000 savers in defined contribution schemes want support in choosing how to access their pensions. Some want their pension scheme to guide them toward ready-made options for their retirement income.
The PLSA is calling for regulation on schemes...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!