Preparations for the fundamental changes announced in the
2014 Budget are well under way. The main pieces of
primary legislation have been introduced to Parliament and
consultations, both public and behind the scenes, are continuing.
Trustees and employers should be considering how the changes
might affect their schemes and what, if any, modifications
they may wish to make. Although the largest changes are to
defined contribution arrangements, trustees and employers of
defined benefit schemes should also be considering whether to relax
their transfer rules to allow members to access the new
flexibilities more easily.
Over the next few weeks and months leading up to 6 April
2015 we will be issuing focused guidance for employers and
trustees. Today, I am just going to highlight a few recent
developments.
