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Prepare your DC scheme for future EU relationship

The UK’s membership of the European Union (EU) has ended. During the transition period, trustees of defined contribution (DC) pension schemes should have focused on areas such as investment, member communications and administration.

The transition period ended on 31 December 2020. The pensions rules for the UK that come from EU law continued to apply during the transition period.

We continue to expect trustees to focus on the areas below as well as any other scheme-specific issues.


Pensions are long-term investments and you should avoid taking decisions based solely on short-term performance. You should continue to regularly review the longer-term performance of individual funds.

Any impact on DC members’ savings may depend on where they are in their pension saving journey. They may be a long way from minimum pension age, approaching pension age or already accessing some or all of their pension savings, and any investment volatility may impact each of these groups differently.

You should work with your providers and advisers to monitor developments and take steps to manage any emerging risks to the scheme.

Member communications

Your members, especially those approaching retirement, may be nervous about the impact of the UK’s decision to leave the EU on their pension savings. They may contact you or the administrator for further information. You should talk to your administrator and make sure they are prepared to answer queries.

You should be prepared to explain clearly to your members the approach that you have taken in respect of the UK leaving the EU.

Encourage your members to contact MoneyHelper for free and impartial guidance.

Operations and administration

Read the Department for Work and Pensions' guidance on pensions and benefits for European Economic Area (EEA) and Swiss citizens in the UK and UK nationals in the EEA or Switzerland.

Make sure you understand the impact of the UK leaving the EU on any key services to your scheme that are provided from the EU, eg asset management.

Speak to your administrator to make sure that nothing will interrupt the payment of benefits.