From October 2021, it is proposed that new and game-changing obligations for those involved in occupational defined contribution (DC) schemes will come into force. These will require certain schemes to compare their value for members against the value offered by large commercial DC schemes and, ultimately, result in increased consolidation of schemes in this area.
Trustees and employers of occupational DC schemes should prepare to move in this area sooner rather than later, to avoid a capacity crunch in the market once the Regulations are in force.
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