In November 2026, the UK Department for Work and Pensions launched consultations on Guided Retirement and Retirement Collective Pension Schemes. The November 3 proposals envisage a default route from workplace defined-contribution savings to managed lifetime income while preserving choice. Responses are due December 22, 2026. A scheme’s role during saving is different from its role when a worker needs income. Trustees and employers should compare how proposed routes handle