The HRTech Wire

Default income | DWP launches Guided Retirement consultations for private sector

The UK Department for Work and Pensions has launched two consultations on whether 17 million private sector pension savers could be given a default income in retirement, according to HR Grapevine. The proposal would be a rule-level change to how workplace pension savers receive retirement income, which HR and benefits teams running workplace pension schemes would need to track.