3 November 2026
The government has released more details about new rules for defined contribution pension schemes, requiring them to provide a ‘default’ pension solution for members who are ready to retire.
The new rules are expected to take effect in 2029 (for DC master trusts and FCA-regulated schemes) and 2030 for single-employer DC trusts, subject to the outcome of a number of industry consultations.
Trustees will be expected to provide a pension solution that delivers benefits in the form of a regular income. For most savers, the only decision required will be when to access their pension and whether to remain in the default pension or choose an alternative.