Savings Body Sounds Warning Over Collective Pension Plans
By Martin Croucher (September 1, 2021, 2:36 PM BST) -- Britons saving for retirement should be made fully aware of the risks of new types of "complex" pension scheme that will soon be launched under rules being considered by the government, a trade body has warned.
The Investment and Savings Alliance said on Tuesday that a potential lack of transparency in new collective defined contribution schemes, coupled with increased risk of disrupted benefits for retirees, meant the new type of saving plan might not prove as popular as expected. The trade body, which represents 200 pensions companies, was responding to a consultation by the Department for Work and Pensions, which closed on...
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