Rosalind Connor comments on The Pensions Regulator’s updated DC code of practice
The Pensions Regulator has updated their defined contributions code of practice. With the update they have also released six guides to help comply with the legal obligations.
Rosalind believes the code offers clearer advice, even within its slightly altered name.
She said: “What makes a considerable difference is the name of the code has changed slightly. It’s changed from ‘money purchase trust-based schemes’ to ‘trust-based schemes providing money purchase benefits’. It may not seem like a big thing, but they are making it clear they’re not just talking about a standard DC scheme, but also DB schemes with DC elements.”
Read the full article in Professional Adviser here.
Read the full article in Retirement Planner here.
The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. Arc Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.