Much has been written about this since the results of the consultation have been published and this article does not seek to duplicate the technical aspects.
But what are the practical implications and what do you need to do now (or not as the case may be)?
Deferred Choice Underpin (DCU)
The decision has been made to implement DCU – this means that you won’t actually need to make the decision about which scheme you want your pension benefits to accrue in until you come to retire and draw your benefits i.e. the choice is deferred to a later date.