Our 2014 Annual Survey revealed that active membership of DC schemes now outnumbers that of DB schemes for the first time.
With the continued roll out of automatic enrolment, the introduction of new pension freedoms and a renewed focus on costs and charges, it is clear that DC pensions will remain high on the public policy agenda.
As more individuals start to save into a workplace pension, it is vital that schemes are well-governed and deliver value for money for savers. The introduction of new pension freedoms offers unprecedented opportunities for individuals, but it is crucial that changes are communicated properly so that people can make solid plans for retirement.
The Pensions and Lifetime Savings Association plan is working hard to promote a regulatory framework for DC pensions that maintains incentives to save, protects schemes from unnecessary costs and ensures good retirement outcomes are delivered for all savers.