SPC meets with MPs to discuss ongoing reforms

SPC chairman Sir James Hodge met with the work and pensions spokesman Chris Grayling and pensions spokesman Nigel Waterson on March 18.

SPC public relations committee chairman Roger Mattingly told PP: "We feel at this stage we need to be as constructive as possible, so in four years’ time when personal accounts are introduced there will be fewer hiccups.

"The pensions industry should be actively preparing for large-scale change and all employers will benefit from building personal accounts into their longer-term planning now."

Mattingly said the meeting was part of an ongoing dialogue between the industry and parliament. SPC met pensions reform minister Mike O’Brien last year and is also forging a relationship with the Liberal Democrats.

Mattingly added: "Such dialogue is needed to make preparation for coming challenges easier and more efficient. "Recent events in the money markets and pensions deficits widening as a result of volatility has made it even more important that the industry engages with politicians to address the manifold, pressing issues we face head on."