Policy paper

Stronger nudge to pensions guidance: statement of policy intent

Paper setting out the government’s policy intent to encourage individuals with occupational pensions to take appropriate pensions guidance.

• From: Department for Work and Pensions
• Published: 28 October 2020

This was published under the 2019 to 2022 Johnson Conservative government

Applies to England, Scotland and Wales

Documents

Stronger nudge to pensions guidance: statement of policy intent

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Stronger nudge to pensions guidance: statement of policy intent

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Details

Pension Wise provides free, impartial guidance to help individuals aged 50 or over understand the options available to them with a defined contribution pension. The government is committed to ensuring that when preparing for retirement, savers are encouraged to access appropriate pensions guidance. In 2019 to 2020, the Stronger Nudge trials demonstrated a significant increase in the take-up of Pension Wise guidance when individuals were ‘nudged’.

This statement sets out the government’s policy intent to introduce regulations that require trustees of occupational pension schemes to nudge members to appropriate guidance when they want to access their pension through the pension freedoms.

Published 28 October 2020