Consultation paper issued December 2010.
Consultation period ended on 7 March 2011
The DWP has consulted on offering a default option for defined contribution automatic enrolment schemes, with guidance on providing a default investment option for schemes into which members will be auto-enrolled. The draft guidance covers both occupational and personal pension schemes which may be used for auto-enrolment. Compliance with the guidance but will not be compulsory, but the consultation paper says that compliance will be monitored and regulatory steps may be taken at a later date if necessary.