Helping Savers Understand their Pension Choices

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Helping Savers Understand their Pension Choices: PLSA response

The PLSA welcomes government’s proposals to require DC schemes to provide greater support for their members through default retirement products which cater for their varying needs, including both flexibility and sustainability of income.

The proposals are in line with our Guided Retirement Income Choices framework which would see such products implemented according to stringent standards and governance so that less engaged members can be assured of good outcomes. The outstanding element of decumulation support is the communications and guidance which are needed to complement any products, and we understand government will consult on these in the Autumn.