DWP issues default pension fund guidance

At this stage the guidance, published today, is non-regulatory but DWP said it may consider issuing statutory instruments to uphold it and protect members' interests if there is strong evidence to suggest it is is being wilfully ignored or if it is not having the desired effect of promoting good practice. It said the principles-based guidance, intended to support existing legislation for both occupational schemes and workplace personal pension, should be met when governing, designing, reviewing and communicating the default option. It added: "By this we mean it sets out high-level, no...