The Pension Schemes Act introduces guided retirement as a fundamental shift in how defined contribution (DC) schemes support members at the point of retirement. Under guided retirement, trustees will be required to provide a default pension benefit solution for members who want an income in retirement without having to navigate complex decisions themselves.
In this webcast, our experts examine what guided retirement means in practice for trustees, employers and members and the role Retirement CDC could play.
Key subjects covered:
- Why DC at retirement is "broken" and what guided retirement sets out to fix - the challenges with how DC schemes currently support members at retirement, why drawdown falls short and the Government's rationale for introducing a guided retirement
- The regulatory landscape and implementation timeline - what the Pension Schemes Act requires, the key compliance deadlines for master trusts and single employer trusts, and how the forthcoming secondary regulations are expected to shape the detail of what trustees will need to put in place
- The two leading solutions: Flex and Fix vs Retirement CDC – a comparison of the two options the market is converging around as possible solutions, how each option works, the key differences between them and why we believe Retirement CDC represents the best option for the majority of DC members
- An implementation framework for trustees - the steps trustees should be taking to prepare for Guided Retirement and implementing a default solution
- What guided retirement means for employers - Why guided retirement is not just a trustee issue
Watch the full webcast to understand where the DC retirement landscape is heading and what it could mean for your schemes.
You can access the on-demand recording of our DC guided retirement webcast by completing the form on this page.
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