In April 2015 "freedom and choice" reforms will provide much greater flexibility for workers with DC pension savings in terms of how and when they can use those funds, but there are much wider implications for employers to consider.

The changes are likely to increase the trend away from retirement in its traditional form, where an individual ceases work completely at a predictable age. This checklist by Allen & Overy LLP (from their DCHQ online series) outlines the key cost and workforce planning implications that employers should consider, in order to prepare for the changes.

For more about the reforms, see Practice note, DC pension flexibility: overview.