FINANCE

Need to know on pensions

Following changes to rights for LGPS members, Michaela Berry and Katharine Swire explain crucial knowledge required by administering authorities

LGPS members have a statutory right to transfer their benefits to another occupational pension scheme or personal pension scheme – but this right comes subject to some new conditions. What do administering authorities need to know?

From 6 April 2015, the Government introduced workplace pension reforms first announced in the 2014 Budget, permitting greater 'Freedom and Choice' to defined contribution (DC) pension savers.

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