Retirement incomes under a proposed shake-up of pension saving will be an aspiration and in no way guaranteed, a long-awaited Government consultation has confirmed, as it reveals a preferred option is to forego a safety buffer to protect pensioner incomes.
Today's publication begins the process of establishing rules on how defined contribution (CDC) pension schemes - a “third way” in retirement saving between defined benefit (DB) and defined contribution (DC) plans - will work.
In a CDC scheme, pension savers' financial contributions are invested in a collective fund. Broadly, a member’s pension would be calculated by estimating how much money is needed to provide a target level of benefits...
Government reveals plans for 'Dutch-style' pensions: how much could you get?
Tulipe pensions for everybody!
