George Osborne's pensions freedom package, due to come into force in April, is at risk of becoming an "infamous example of political bungling" unless advice concerns are addressed, Phil Loney has said.
The chief executive of Royal London said the package of reforms announced in last year's Budget had been introduced too quickly and the population had so far failed to understand what it means for them....
Guy Opperman says two page, simpler statements as well as an annual ‘season’ in which to issue them could be transformative steps for the UK pensions industry
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
The pensions industry must personalise interventions and auto-enrolment (AE) conversations to prevent members from squandering their pots at retirement age, according to industry experts.
Legal & General Investment Management (LGIM) has incorporated ESG considerations as well as its climate impact pledge into the default funds for the 3.3 million members in its master trust and contract-based schemes.
A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.