Pledge was made during discussions on reform to the Solvency II framework

Chancellor provided no update on the Pensions Review and no clarity around AE

Organisation said the industry must ‘fully understand’ terminology and implications

The pledge will commit employers to prioritise net returns, not just cost

Aegon has called for consensus on what constitutes an adequate retirement

Over 20 million pension records have been connected to the architecture

Andrew Bailey has said he does not support mandation, with the industry suggesting this will be ‘unwelcome’ at the DWP

Hymans said administering authorities are already delivering other time-sensitive changes

Schemes and insurers providing more digital tools, financial advice and benefit flexibilities

Supports ambition to invest at least 10% of its default fund in private market assets