ARIES INSIGHT:

  GUIDANCE ON THE MEANING AND IMPACT
  OF PENSIONS LEGISLATION CHANGES
 

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  TPR'S 15-YEAR PLAN & UNANNOUNCED GUIDANCE CHANGE
The Pensions Regulator (TPR) has published a discussion document considering the provisional strategy the regulator will pursue over a fifteen-year horizon.

The shift to DC in the first fifteen years of TPR's existence is going to change the regulator's focus from a scheme-based view "to one that puts the saver at the heart of all that we do". This acknowledgment in the CEO's introduction - the phrase is emblazoned on the front

cover of the document too - is also noteworthy in referencing 'savers' rather than 'members'.

Aries comment
While the risks in DC arrangements as know them do fall largely on the individual, it is to be hoped that TPR has not abandoned the prospect raised by the Pension Schemes Bill of a future for collective DC arrangements.

TPR's strategy analyses different groups

of savers by generation: Baby Boomers (born 1946-1964), Generation X (born 1965-1984) and Millennials (born 1985-2004). Each is divided into three income levels: high-middle, middle-low, and low-very low, with. the expected relative reliance of each on DB, DC and State pensions plus other long-term savings.

Aries comment
As you would expect, high-middle
. . .

18 Oct 2020   Check other news items

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