Pensions - Articles - Government confirms deferral of DA and collective DC

 “Since the concept was first mooted it’s clear that pot follows member came with inherent risks: the significant costs of repeat transfer, the responsibility for the pension holder’s journey, potential for higher charges following transfer, and the impact on administrators of all this extra churn. Its demise perhaps signals these barriers collectively were too much to follow through with.

 “Even without this and the other measures put into the long grass today, there remains a great deal of change for schemes, insurers and companies to grapple with. Pension freedoms are still bedding in, uncertainty remains regarding the future taxation of pensions and auto-enrolment is still underway. All against a backdrop of stubbornly low savings ratios. Incentivising saving, rather than endless tinkering with it, is the only way to alter this trajectory.”