Pensions

June 2022 - Stronger nudge to pension advice

To help defined contribution (DC) savers make better decisions at retirement, the government has introduced regulations that require members with Additional Voluntary Contributions (AVCs) attached to their LGPS pension to take advice from Pension Wise, or opt out of receiving the advice, before they can access the AVC fund.

The new regulations come into force on 1 June 2022.