At present, people aged 55 can access their retirement funds but the age limit is likely to increase by two years under plans laid out by the Treasury.
The Treasury consultation said the government intended to legislate to increase the normal minimum pension age to age 57 on 6 April 2028.
Author(s): Jenna Brown
Publication Date: 11 February 2021
Publication Site: Professional Pensions
Solvency II is the regime that governs the prudential regulation of insurance firms in the UK. This call for evidence is the first stage of the review of Solvency II.
The review is underpinned by three objectives:
to spur a vibrant, innovative, and internationally competitive insurance sector
to protect policyholders and ensure the safety and soundness of firms
to support insurance firms to provide long-term capital to support growth, including investment in infrastructure, venture capital and growth equity, and other long-term productive assets, as well as investment consistent with the government’s climate change objectives.
The government seeks views on how to tailor the prudential regulatory regime to support the unique features of the insurance sector and regulatory approach in the UK.
Author(s): Her Majesty’s Treasury
Date Accessed: 24 February 2021
Publication Site: Gov.UK