UK Government launches DC information for members
UK – The government has announced it is publishing a new set of guidelines to improve the quality of information available to members of defined contribution schemes.
The publication, to be published annually from next April, will allow people to work out the value of their pensions at pensionable age based on current values.
Says pensions minister, Ian McCartney: “this is an important part of the government’s drive to encourage people to think about their pension provision…people will be able to see what the real spending power of their pension might be.”
This latest development comes two weeks after the National Association of Pension Funds issued its own set of guidelines for trustees of DC schemes.