How should trustees communicate new retirement choices to members?

Monday 9 March, 2015

On March 5th 2015 The Pensions Regulator published a new draft essential guide which should allow pension scheme trustees to provide their members with defined contribution retirement choices. The guide provides the following information:

• Trustees must now inform their members about Pension Wise the Government’s new advice service that helps members coming up to retirement decide their choices
• There is also advice about the ‘generic risk warnings’ that are used to help members understand their choices

Simon Hawker Managing Director of Lonsdale Services said: ‘The guide is essential reading for trustees as they must communicate all the new pension changes with their members. Anyone coming up to retirement now has several options and the information provided by trustees and available on the Government’s Pension Wise website should help them make appropriate  choices.’  

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