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Legal Update

DC pensions flexibility: legislation laid before Parliament

October 2014
Mayer Brown Legal Update
In the 2014 Budget, the Government announced what it called “the most fundamental reform to the way people access their pensions in almost a century”. The most significant change announced was that, from April 2015, members with defined contribution benefits, meaning money purchase or cash balance rights, would be able to draw down all their benefits as cash from age 55.

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