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Government publishes response to consultation – freedom and choice in pensions

23 July 2014

The government has published its response to the ‘Freedom and choice in pensions’ consultation.  Individuals aged 55 or over will be able to access their entire DC pension flexibly. This will be underpinned by the ‘guidance guarantee’ which will be provided by independent organisations rather than pension schemes or providers. Transfers from private sector DB schemes to DC schemes will continue to be allowed as will transfers from funded public sector DB schemes, subject to two safeguards.