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