‘The DWP, working with tPR and the FCA, has today launched a consultation on implementing guided retirement across trust-based and contract-based workplace pensions. The proposals would require providers to offer eligible DC savers a default pension designed to simplify the transition from saving to drawing retirement income. Members would retain freedom to choose another option. Default pensions would normally include protection against outliving savings, with a proposed £10,000 threshold assessed across an individual’s relevant pots held with the same provider, after any tax-free pension commencement lump sum.‘
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Pensions Barrister, 3rd November 2026
Source: www.pensionsbarrister.com