This issue of DC Governance Watch focuses on:
- the July 2023 DWP Consultation ‘helping savers understand their pension choices’ and PASA’s response
- trustees’ current responsibilities and what they could be doing
Pension freedoms gave savers more flexibility in how they could use their pension savings, but there was uneasiness savers weren’t sufficiently equipped to be able to make well informed decisions about their retirement options. New requirements to signpost the Pension Wise service from MoneyHelper were introduced alongside pension freedoms, but there were concerns about the effectiveness and take up rates of the initiative.
