This note considers the government's reforms that created new flexible access options for individuals with defined contribution (DC) pension savings who have reached the age of 55. The note summarises the key points in the legislation enacting the measures, as well as looking at consequential changes that have come into effect since the flexible access reforms were introduced. The note also considers the implications of the reforms for trustees and managers of DC and defined benefit (DB) pension schemes and the pensions industry as a whole.