Pension Schemes Bill published
On 5 June, the Government published the Pension Schemes Bill. The Bill aims to tackle fragmentation, boost investment, increase saver returns, address waste across the defined contribution (DC) workplace pensions market and the Local Government Pension Scheme (LGPS) and allow additional flexibility for the extraction of a DB surplus.
The Bill reflects the Government's strategy for improving UK pension funds by focussing on scale and consolidation and providing for more investment in the UK economy through pension schemes.
The clear message is bigger and better pension funds drive higher returns for savers and higher investment for Britain.
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