The Financial Services Act of 1986 launched personal pension plans, this is where we see the birth of what we think of today as the DC pension space.

During this period we see the shift from DB to DC schemes accelerated due to a number of factors, from employers looking to de-risk from liability matching to longevity risk and more SME offering pensions as a benefit to employees

Automatic enrolment was introduced to improve participation in pension savings - phased in over 6 years, the amended 2008 Pension Act would see 11 million members enrolled